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As long as Pete is happy with the size of his business and is obviously at capacity as far as the number of orders he can handle goes, it doesn't really matter from a business standpoint how many customers he doesn't get because of the wait time. I'm sure Pete would love to be able to snap his fingers and sell a set of gear on the spot to whomever wants one, but he has to be pretty happy with the amount of gear he is selling as is.
If his wait times were this long even when he wasn't backed up with orders, then he would probably need to rethink his production strategy a bit.
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