A Fixed Resource Is One That

question 86

Multiple Choice

A fixed resource is one that

• A) is physically tied to a specific location.
• B) costs more than the average daily revenue of the firm.
• C) cannot be varied in the short run.
• D) can be disposed of only if the firm goes out of business.

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Definitions:

Compensating Differentials

Wage differences across jobs that reflect the attractive or unattractive aspects of those jobs, serving to equalize the desirability of these positions.

Teacher Quality

Teacher quality encompasses the various attributes of a teacher, including expertise, effectiveness in teaching, and ability to positively influence student outcomes.

Compensating Differential

A difference in wage rates designed to offset the desirability or undesirability of a job or job conditions.

Compensating Differential

A difference in wage rates designed to offset the desirability or undesirability of a job's attributes.