A Factor of Production Whose Quantity Can Be Changed During

question 130

Multiple Choice

A factor of production whose quantity can be changed during the short run is:

• A)a marginal factor of production.
• B)a fixed factor of production.
• C)an incremental factor of production.
• D)a variable factor of production.

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Definitions:

Degrees of Freedom

A concept in statistics that represents the number of independent values or quantities which can be assigned to a statistical distribution.

Categories

Distinct groups or classes into which data or items can be classified.

Chi-square Test

A statistical test used to determine if there is a significant difference between the expected frequencies and the observed frequencies in one or more categories.

Distribution

Refers to the way in which something is shared out or spread across a range, often used in reference to statistical data.