After Analysing Factor Input Data, a Firm as Established That

question 39

Essay

After analysing factor input data, a firm as established that:
$\begin{array}{|l|l|}\hline \text { A change in one hour of labour } & \text { Would change output by } 100 \text { units a day } \\\hline \text { A change in one hour of capital } & \text { Would change output by } 20 \text { units a day } \\\hline \text { Labour costs per hour } & \text { R50 } \\\hline \text { Capital costs per hour } & \text { R5 } \\\hline\end{array}$ Can the firm increase its production without increasing its budget?

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Definitions:

Strict Liability

A legal principle where the defendant is liable for the consequences of an action, regardless of intent or negligence.

Strict Liability

A legal doctrine where a party is responsible for damages or loss, not due to negligence or intent, but because they are in a certain activity or role.

Dangerous Substances

Materials that can pose a risk to health, safety, or the environment due to their hazardous properties.

Harm

Harm refers to physical injury, psychological distress, financial loss, or damage to property caused by another's actions or negligence.