Write the Correct Pronoun in the Blank

question 397

Short Answer

Write the correct pronoun in the blank. The group of hikers carried a two-day supply of food in (its, their) knapsacks.

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Definitions:

Marginal Cost

The cost added by producing one additional unit of a product or service, crucial in decision-making on production and pricing.

Fixed Cost

Costs that remain constant regardless of the amount of goods produced or sold, including expenses like lease payments, employee wages, and insurance fees.

Variable

A characteristic, number, or quantity that can change or vary, taking on different values in a mathematical model, statistical experiment, or real-life situation.

Output

The quantity of goods or services produced by a firm, industry, or economy within a certain period.