Which of the Following Statements Is TRUE in the Short

question 99

Multiple Choice

Which of the following statements is TRUE in the short run?

• A)Generally, labor is a variable input.
• B)Generally, capital is a variable input.
• C)Raw materials are generally considered to be fixed inputs.
• D)Whether or not an input is considered fixed is dependent on the price paid for the input.

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Definitions:

Inspiratory Reserve Volume (IRV)

The highest volume of air that one can breathe in following a regular breath.

Expiratory Capacity (EC)

The maximum volume of air that can be expelled from the lungs after a normal tidal volume expiration, including both the expiratory reserve volume and the tidal volume.

Anaerobic Breakdown

The process of generating energy in cells in the absence of oxygen, producing substances such as lactate.

ATP

Adenosine triphosphate is a compound that transports energy within cells to fuel metabolic processes.