When Labour Costs Are Quasi-Fixed, Then Which of the Following

question 11

Multiple Choice

When labour costs are quasi-fixed, then which of the following statements are true?

• A) They are fixed in the short run but variable in the long run.
• B) They are fixed in the long run but variable in the short run.
• C) The employer has committed to them in a contract.
• D) They are independent of the number of hours worked by a firm's workforce.
• E) They are dependent on the number of hours worked by a firm's workforce.

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Definitions:

Negotiable Instruments

Financial documents that promise to pay the bearer or named party a specific sum of money, either on demand or at a set time.

Investment Securities

Financial instruments such as stocks, bonds, and mutual funds that are purchased with the expectation of earning a return.

Sales Of Goods

Transactions or agreements involving the exchange of tangible, movable items between parties for money or other consideration.

Temporary Insurance

A limited-term coverage that provides immediate protection until a permanent insurance policy is issued or denied.