What Types of Information Do Not Need to Be Cited

question 42

Essay

What types of information do not need to be cited? Give at least two examples. What types of information need to be cited? Again, give at least two examples.

---

Definitions:

Fixed Capital

Long-term assets used in the production of goods and services, such as buildings, machinery, and equipment.

Variable Labor

Labour costs that vary directly with the level of production or output in a business.

Average Variable Cost

The cost per unit of output that varies with the level of production, excluding fixed costs.

Average Total Cost

The sum of average variable costs and average fixed costs (costs that do not change with the level of output) divided by the quantity of output, representing the total cost per unit of output.