Which of the Following Is of Least Concern to a Researcher

question 3

Multiple Choice

Which of the following is of least concern to a researcher in a mineral nutrition experiment?

• A) purity of the chemicals used to make the nutrient solutions
• B) purity of the water used to make the nutrient solutions
• C) ability of a laboratory balance to weigh very small quantities of chemicals
• D) medium in which the test seedlings were grown

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales.

Short Run

A period in which at least one input, such as plant size or the number of firms in the market, is fixed and cannot be changed.

Fixed Cost

Any cost that does not depend on the firms’ level of output. These costs are incurred even if the firm is producing nothing. There are no fixed costs in the long run.

Marginal Costs

Marginal Costs involve the additional expenses incurred from the production of one extra unit of a product or service.