If Some Inputs of Production Do Not Vary with the Level

question 27

Multiple Choice

If some inputs of production do not vary with the level of output we call them fixed inputs which when multiplied by their price become fixed cost. Which of the following items typically fit this category?

• A)Property taxes
• B)Insurance payments
• C)Interest on loans
• D)All of these are fixed costs

---

Definitions:

John Roberts

John Roberts is the 17th and current Chief Justice of the United States, appointed in 2005 by President George W. Bush.

Sandra Day O'Connor

The first woman appointed to the U.S. Supreme Court, serving from 1981 to 2006 and known for being a crucial swing vote in many decisions.

Prescription Drug Costs

The expense associated with purchasing medications prescribed by healthcare professionals, often a significant concern in healthcare debates.

Medicare

A federal program in the United States that provides health insurance to people over the age of 65 and to certain younger people with disabilities.