Use the Following to Answer Questions -(Table: Tonya's Production Function for Apples)Use Table: Tonya's Production Function

question 306

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Tonya's Production Function for Apples }\\\begin{array} { l c c } \hline \begin{array} { l } \text { Quantity } \\\text { of Land } \\\text { (hectares) }\end{array} & \begin{array} { c } \text { Quantity } \\\text { of Labour }\end{array} & \begin{array} { c } \text { Total } \\\text { Product } \\\text { (apples picked) }\end{array} \\\hline 10 & 0 & 0 \\10 & 1 & 8 \\10 & 2 & 15 \\10 & 3 & 21 \\10 & 4 & 26\end{array}\end{array}$$
-(Table: Tonya's Production Function for Apples) Use Table: Tonya's Production Function for Apples.In the short run,Tonya's fixed input(s) is/are:

• A) land.
• B) labour.
• C) land and labour.
• D) neither land nor labour.

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Definitions:

Quick Assets

Liquid assets that can be rapidly converted into cash without significantly affecting their value, including cash, marketable securities, and receivables.

Current Receivables

Financial assets expected to be converted into cash within one year, including money owed by customers (accounts receivable).