Two Inputs ______ When They Must Be Combined in a Fixed

question 7

Multiple Choice

Two inputs ______ when they must be combined in a fixed ratio.

• A) are perfect substitutes
• B) are perfect complements
• C) represent Cobb-Douglas technology
• D) are fixed inputs

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Definitions:

Income

is the financial gain received by an individual or entity, typically through employment, investments, or other means.

Family Life Cycle

A series of stages through which a family might pass over time, including marriage, parenthood, and retirement.

Income

The monetary gain derived from wages, salaries, investments, or other sources over a period of time.

Total Fertility Rate

The average number of children a woman is expected to give birth to during her lifetime, based on current birth rates.