The Return to Any Factor of Production That Is in Fixed

question 197

Multiple Choice

The return to any factor of production that is in fixed supply is called

• A) marginal product.
• B) demand.
• C) economic profit.
• D) pure rent.

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Definitions:

Market Price

The present cost at which a service or asset is available for purchase or sale in the marketplace.

Average Collection Period

The typical duration a business must wait to collect payments from its customers for goods or services sold on a credit basis.

Financial Data

Refers to information related to the financial performance of an entity, including income, expenses, assets, and liabilities.

Sales On Account

Transactions where goods or services are sold and payment is deferred to a future date, essentially selling on credit.