Suppose That a "Doggie Day Care" Firm Uses Only Two

question 164

Multiple Choice

Suppose that a "doggie day care" firm uses only two inputs: hourly workers (labor) and a building (capital) . In the short run, the firm most likely considers

• A)both labor and capital to be fixed.
• B)both labor and capital to be variable.
• C)labor to be variable and capital to be fixed.
• D)capital to be variable and labor to be fixed.

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Definitions:

Decision-Making

The cognitive process of selecting a course of action among several alternatives, crucial in clinical settings for determining patient care strategies.

Coordination

The organization of the different elements of a complex body or activity so as to enable them to work together effectively.

Material Resources

Tangible assets or physical goods that are needed for the production of services or goods, including machinery, buildings, and raw materials.

Human Resources

refers to the department within an organization that deals with the management, support, training, and development of its employees.