A Certain Production Process Requires Only Two Types of Inputs

question 71

Multiple Choice

A certain production process requires only two types of inputs - capital and labor.In 2006,100 units of labor and 50 units of capital were employed,and 100 units of output were produced.In 2013,112 units of labor and 56 units of capital were employed.If the production process displays constant returns to scale,then how many units of output were produced in 2013?

• A)100
• B)112
• C)124
• D)144

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Definitions:

Scenario Analysis

A process of analyzing possible future events by considering alternative possible outcomes (scenarios), often for the purpose of planning through uncertainty.

Sensitivity Analysis

Analyzes how different values of an independent variable affect a particular dependent variable under a given set of assumptions.

Simulation Analysis

Involves the use of mathematical models to predict the outcome of various financial strategies under different conditions.

Cash Break-Even

Cash break-even is the point at which a business's cash receipts equal its cash expenses, indicating the minimum amount of sales needed to cover all cash outflows without considering any profit.