Which of the Following Is True of Fixed-Proportions Production

question 34

Multiple Choice

Which of the following is true of fixed-proportions production?

• A) The inputs used in production have constant marginal products.
• B) An increase in the price of an input will lead the firm to substitute away from it.
• C) The inputs used in production display diminishing marginal returns.
• D) The inputs used in production are perfect complements.
• E) The marginal cost of the inputs used in production is fixed.

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Definitions:

Bottom-Up Processing

A cognitive process that starts with raw sensory data and builds up to higher-level perception and understanding.

Locke

John Locke was an English philosopher and physician, widely regarded as one of the most influential Enlightenment thinkers and commonly known as the "Father of Liberalism."

Kant

Immanuel Kant, an influential philosopher in the history of Western philosophy, known for his work in epistemology, ethics, and aesthetics.

Gibson

A surname potentially referencing James Gibson, a psychologist known for his work on the ecological approach to visual perception.