Choose the Word or Phrase in [ ] Which Will

question 36

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-You originally paid $6,000 for your car,which has a current market value of $4,000,and the balance of the loan against it is now $2,500.You will list this car in the assets section of your personal balance sheet at [$6,000 | $4,000].

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Definitions:

Inputs

The resources used in the production process to create goods or services, including labor, raw materials, and capital.

Scale

The size or level of activity of a company or operation, or the capacity to adjust the size or level of activity.

Increasing Returns

A condition in economics when an increase in the scale of production leads to a greater proportional increase in output.

Isoquants

Curves that represent combinations of inputs that produce the same level of output, used in production theory.