If Production Is Given by Q = KL,doubling Both Inputs

question 18

Multiple Choice

If production is given by Q = KL,doubling both inputs

• A)more than doubles output.
• B)exactly doubles output.
• C)increases output but does not double it.
• D)leaves output unchanged.

---

Definitions:

Work in Process

This refers to the inventory of items being produced but not yet completed, often seen in various stages of production.

Property, Plant, and Equipment

Long-term tangible assets used in the operation of a business and not intended for resale, including buildings, machinery, and equipment.

Fixed Manufacturing Overhead

Costs associated with production that do not change with the level of output, such as rent, salaries, and utilities.

Direct Labor

The wages and related costs for employees who are directly involved in the production of goods or providing services.