The Slope of the Production Function with Capital Per Worker

question 117

Multiple Choice

The slope of the production function with capital per worker on the horizontal axis and output per worker on the vertical axis

• A)is positive and gets steeper as capital per worker rises.
• B)is positive and gets flatter as capital per worker rises.
• C)is negative and gets steeper as capital per worker rises.
• D)is negative and gets flatter as capital per worker rises.

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Definitions:

Rate Variances

The difference between the actual rate paid for inputs and the standard rate expected, often analyzed for labor or overhead rates.

Efficiency Variances

The difference between the actual amount of an input used and the expected (or standard) amount needed, multiplied by the standard cost per unit of input.

Landing Gears

A critical aircraft component that supports the plane during landing and takeoff.

Materials Price Variance

The difference between the actual cost of materials and the expected cost, multiplied by the quantity of materials used.