The Next Questions Refer to the Following

question 18

Multiple Choice

The next questions refer to the following.
Suppose the economy has TFP = 10, there are 400 hours worked, and 60 unit of capital and 210 units of land the Cobb-Douglas production function is:
Output = TFP x Hours^0.3 x Capital^0.3 x Land^0.2.
-Output is currently about

• A) 36,000
• B) 600
• C) 12,000
• D) 1,800
• E) 6,000

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Definitions:

Marketing Mix

A set of controllable marketing tools—product, price, place, and promotion—that a company uses to produce a desired response in the target market.

Inbound Logistics

The activities related to receiving, storing, and distributing inputs internally needed for the production of goods or services.

Outbound Logistics

The process involved in moving products from the production facility to the end user or intermediary, such as transportation and warehousing.

Procurement

The process of obtaining goods or services, typically for business purposes, including selection, negotiation, and acquisition.