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Two companies operating from the same building have a conflict over the parking facilities available to their employees. They fail to come to a conclusion beneficial to both the companies. Eventually, the company with fewer number of employees loses the conflict, and it is forced to stop using the parking facilities. In the given scenario, which of the following methods did the company use to resolve the conflict?
Production Function
A mathematical representation that defines the relationship between inputs used in production and the output generated from those inputs.
Returns To Scale
The rate at which production increases in response to proportional increases in all inputs.
Returns To Scale
The rate at which output changes if the scale of all inputs is changed by the same proportion in the production process.
Input
Resources used in the production process to generate goods or services, including labor, raw materials, and capital.
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