The Per-Person Production Function in Chapter 10 Assumes That a One

question 45

Multiple Choice

The per-person production function in Chapter 10 assumes that a one percent rise in (K/N) causes a ________ rise in (Y/N) ,and so it is diagrammed as a ________ line.

• A)less-than-one-percent,downward-curling
• B)less-than-one-percent,upward-curling
• C)one percent,upward-curling
• D)one percent,downward-curling
• E)more-than-one-percent,straight

---

Definitions:

Cost Savings

Reductions in expenses achieved through efficiency improvements, budget adjustments, or other financial strategies.

Production Opportunities

Situations or contexts in which a company has the potential to increase its output, efficiency, or product offerings.

Desired Profit

The target profit a company aims to achieve within a specific period.