The action time lag is the time period that elapses between when an economic problem manifests itself and it is officially acknowledged.

a. between the recognition of an economic problem and implementing policies to solve it.

b. between implementing policies to solve an economic problem and when the results of that policy can be measured.

c. between the beginning of the budgetary process and the final budget resolution.

Assume that (i) setups need to be completed first; (ii) a setup can only start once the batch has arrived at the resource, and (iii) all flow units of a batch need to be processed at a resource before any of the units of the batch can be moved to the next resource. process step 1 molding 2 painting 3 dressing setup time 15 min. 30 min. no setup processing time 0.25 min./unit 0.15 min./unit 0.30 min./unit which batch size would minimize inventory without decreasing the process capacity?