The problem involves understanding the effect of distance on the intensity of light and the resulting photoelectric effect. Here, we are analyzing the change in the number of electrons emitted when a point source of light illuminating a photoelectric cell is moved from 1 meter to 2 meters away.
Conclusion: The correct answer is that the number of electrons emitted is a quarter of the initial number. This corresponds to option: "number of electrons emitted is a quarter of the initial number".