The Term "Fixed Input" Refers To

question 25

Multiple Choice

The term "fixed input" refers to:

• A)inputs to production that do not vary with respect to quality.
• B)inputs to production that do not vary in price.
• C)inputs to production that yield a constant or "fixed" marginal product.
• D)inputs to production, the quantity of which cannot be varied in the short run.

---

Definitions:

Balance Sheet

A financial statement that reports a company's assets, liabilities, and equity at a specific point in time, giving insight into its financial position.

Income Statement

A financial statement that reports a company's financial performance over a specific period, including revenues, expenses, and net income.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded at the end of an accounting period.

Current Assets

Current Assets are assets that a company expects to convert into cash or use up within one year or its operating cycle, whichever is longer.