The Total Output from a Production System in One Day

question 9

Multiple Choice

The total output from a production system in one day is 900 units and the total labor necessary to produce the 900 units is 900 hours.Using the appropriate productivity measure, what is the resulting productivity ratio?

• A)1.000
• B)1.428
• C)0.700
• D)0.411
• E)None of these

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Definitions:

Marginal Disutility

The additional dissatisfaction or negative utility a person receives from consuming one more unit of a good or service.

Successive Unit

The next unit or piece in a series or sequence, often used in the context of production or consumption.

Framing Effect

The cognitive bias where people's decisions are influenced by the way information is presented rather than the information itself.

Relatively Cheap

A term used to describe goods or services that are considered to be priced lower than their perceived value or compared to alternative options.