If We Use 2,000 Labor Hours to Produce 400 Units

question 73

Multiple Choice

If we use 2,000 labor hours to produce 400 units of a product,then ______.

• A)using the multifactor productivity measure,we get 5 units per labor hour
• B)using the single-factor productivity measure,we get 5 units per labor hour
• C)using the multifactor productivity measure,we get 1 unit per 5 labor hours
• D)using the single-factor productivity measure,we get 1 unit per 5 labor hours

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Definitions:

Concentration Ratio

A measure used in economics to assess the extent of market concentration by calculating the market share of the largest firms within an industry.

Automobile Imports

Cars and other vehicles brought into a country from abroad for sale, reflecting the trade and economic relations between countries.

Japanese Transplants

Foreign-owned manufacturing plants operated by Japanese companies in another country, typically for automotive production.

Concentration Ratio

A measure used to determine the market share of the largest firms in the industry, showcasing the extent of market control.