Which One of the Following Will Determine the Size of the Production

question 14

Multiple Choice

Which one of the following will determine the size of the production possibilities curve?

• A)​amount of labor
• B)​amount of capital
• C)​entrepreneurship
• D)​all of the above

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Definitions:

Cost Drivers

Factors or activities that have a direct impact on the total cost of a product or service.

Direct Labor Hours

The total hours worked by employees directly involved in the production process.

Absorption Cost

A cost accounting method that totals all costs associated with manufacturing a product, including all direct and indirect costs.