If Inputs Increase by 30% and Outputs Decrease by 15

question 18

Multiple Choice

If inputs increase by 30% and outputs decrease by 15%, what is the percentage change in productivity?

• A) 100% decrease
• B) 11.54% increase
• C) 34.62% decrease
• D) 15% increase
• E) 15% decrease

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Definitions:

Opportunity Costs

The value of the best alternative you give up as a result of choosing a different option.

Scarce Resources

Refers to the limited availability of resources that are used for the production of goods and services, necessitating choices about their allocation.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing an action.

Tuition

The fee for instruction at a school, university, or college.