Input Flexibility Assignment Answers
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Input flexibility is the ability to use different combinations to get maximum output. There are manufacturing things that happen when the alteration is not allowed, and this happens in the road construction. The input materials have a ratio, and that has to be followed strictly for the road to be all weather safe roads. Any alteration in the input would destroy the road, and there is a safe inference that there is no input flexibility.
There would be cases when an input material is substituted with another material, and the output level is understood. This substitution is the input flexibility that would be discussed in detail in input flexibility homework answers.
Input flexibility examples
A company that is supposed to transport many units to different parts can use petrol as a fuel and see the transportation as output. The fuel becomes input and there can be a substitute for petrol by using some other natural fossil fuel and transportation could be understood as output.
Use of cane sugar in the making sweet as a substitute for sugar in bakery and hotel business is an example of input flexibility. Examples like this are used in input flexibility assignment answers.
Use of flours like wheat flour replacing all flour is considered as a safe option for food making. And the input cost and output cost would be understood well using diminishing margin returns and using technical terms like Isoquant.
Companies like fast food restaurant have faced problems of finding, low wage young employees, and they have resorted to automation. The initial cost of automation is higher. However, the overall benefit is found to be higher.
Supermarkets have resorted to automation and digitalization to expedite the process of fast output. The examples of a supermarket would be covered in detail in input flexibility assignment answers.
Computers and ATM have made the banking process easier when compared with earlier times. The output in the form of faster processing of loans has also increased. The banks had started spending too much money on cyber security as new threats are on rising.
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