Which of the Following Statements Is TRUE

question 79

Multiple Choice

Which of the following statements is TRUE?

• A)Labor is always a variable input, whereas Capital is always a fixed input.
• B)Labor is always a fixed input, whereas Capital is always a variable input.
• C)Labor can be a fixed input., and Capital can be a variable input.
• D)Labor can be a fixed input, and Capital is always a fixed input.

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Definitions:

Fabrication

The process of creating or manufacturing an object or product from raw or semi-finished materials.

Finishing

The process of completing or perfecting the making of a product, especially in manufacturing or artistic production.

Labor Constraint

A limitation or restriction on the workforce, which can affect production capacity and project timelines.

Net Profit

The financial gain after all expenses, taxes, and costs have been subtracted from total revenue.