Figure 11-15 -Refer to Figure 11-15.What Is the Combination of Inputs That

question 91

Multiple Choice

Figure 11-15

-Refer to Figure 11-15.What is the combination of inputs that produces 200 gooseberry pies at the lowest cost?

• A)combination e: 10 hours of labor and 48 units of capital
• B)combination f: 40 hours of labor and 24 units of capital
• C)combination g: 60 hours of labor and 14 units of capital
• D)combination h: 60 hours of labor and 9 units of capital

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Definitions:

Property

Assets owned by an individual or business, encompassing real estate, personal property, and intellectual property rights.

Net Income

When revenue totals more than expenses, the result is net income.

Gross Profit

The difference between revenue and the cost of goods sold before accounting for other costs such as selling, administrative, and financial expenses.

Direct Expenses

Costs that can be directly attributed to the production of specific goods or services.