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:

Quick Strikes

Rapid, short-term work stoppages by workers to protest against labor issues without engaging in prolonged strikes.

Pressuring Employer

Tactics or strategies used by employees or unions to encourage employers to meet their demands or negotiate.

Contractual Terms

Specific provisions or stipulations contained within a contract that outline the obligations, rights, and responsibilities of each party.

Arbitration

A form of alternative dispute resolution where a neutral third party, the arbitrator, makes a binding decision to resolve a dispute between parties.