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3,000 widgets must be machined on workstation during week. Each widget is identical and requires a machining cycle time (Tc) of 36.5 minutes. All of the machining centres in the shop are equally capable of producing widgets in the specified cycle time. Q: How many machining centres must be devoted to widget production during the given week, if there are 90 hours of available time on each machining center?
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If elasticity is -2, price is $10, and marginal cost is $8, should you raise or lower price?
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