Suppose That on Wednesday the Cost of Inputs Summed to $4000

question 41

Multiple Choice

Suppose that on Wednesday the cost of inputs summed to $4000, and the value of outputs summed to $10,000. For which of the following values on Thursday will productivity stay the same?

• A) inputs = $2000, outputs = $5000
• B) inputs = $5000, outputs = $10,000
• C) inputs = $4000, outputs = $8000
• D) inputs = $10,000, outputs = $4000
• E) inputs = $12,000, outputs = $40,000

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Definitions:

Ancillary Farm

A facility or operation that supports the main farming business by providing additional, usually related, services or products.

Innocent Misrepresentation

A false statement made without knowledge of its falsehood, but without intention to deceive, often leading to an altered contract or agreement.

Unilateral Mistake

A contract law concept where one party is mistaken about a basic assumption on which a contract is based, but the other party is not.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly with the intent to deceive, resulting in harm to the victim.