Which of the Following Is Not Held Constant in a Supply

question 43

Multiple Choice

Which of the following is not held constant in a supply schedule?

• A)production technology
• B)the price of the good
• C)the prices of inputs
• D)expectations

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Definitions:

Accrual Basis

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

Earned Revenues

Income a company has generated for goods delivered or services provided, recognized when earned, not necessarily when received.

Incurred Expenses

Expenses that have been recognized in the accounting period when they are incurred, regardless of when the payment is made.

Profit Margin

A financial metric that shows the percentage of a company's revenue that remains as profit after accounting for costs and expenses.