Which of the Following Is an Example of a Nonadmitted

question 32

Multiple Choice

Which of the following is an example of a nonadmitted asset?

• A)office furniture
• B)supplies
• C)equipment
• D)all of the above

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Definitions:

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production, holding other factors constant.

Marginal Resource Cost

The additional cost incurred by acquiring one more unit of a resource, such as labor or raw materials.

Input Decrease

A reduction in the amount, quality, or efficiency of any raw material, capital, or labor used in the production process.

Derived Demand

Demand for a factor of production or good that results from the demand for another related good or service.