One Unit of I1 Uses 0 $\left[ \begin{array} { l l } 1 & 3 \\ 2 & 1 \end{array} \right]$

question 6

Multiple Choice

One unit of I1 uses 0.2 units of I1 and 0.6 units of I2. One unit of I2 uses 0.4 units of I1 and 0.2 units of I2. Find the associated Leontief inverse.

• A) \(\left[ \begin{array} { l l } 1 & 3 \\ 2 & 1 \end{array} \right]\)
• B) \(\left[ \begin{array} { l l } 1 & 2 \\ 3 & 1 \end{array} \right]\)
• C) \(\left[ \begin{array} { l l } 2 & 1 \\ 1.5 & 2 \end{array} \right]\)
• D) \(\left[ \begin{array} { r r } 2 & 1.5 \\ 1 & 2 \end{array} \right]\)
• E) \(\left[ \begin{array} { r r } 1 & 3 \\ 2 & 1.5 \end{array} \right]\)

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period.

Unit Product Cost

The total cost to produce one unit of a product, including direct materials, direct labor, and manufacturing overhead.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, highlighting net profit or loss.

Variable Costing

An accounting method that only considers variable costs (costs that vary with production volume) in determining product costs and profitability.