A Flask Half Filled with Water Is on a Weighing

question 113

Multiple Choice

A flask half filled with water is on a weighing scale.If you float a piece of wood in it,the scale reading will be

• A)less.
• B)the same.
• C)greater.

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Definitions:

Variable Input

An input in the production process that can be varied in the short term to adjust output, such as labor or raw materials.

Profit-maximizing

The process or strategy by which a firm determines the price and output level that returns the greatest profit.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Marginal Wage Cost

The additional cost incurred by hiring an extra unit of labor, essentially the change in total wage cost from hiring one more employee.