Asked by logan brockway on Apr 29, 2024
Verified
The dormitories of Eastland College are part of its:
A) land.
B) labor.
C) capital.
D) explicit costs.
Capital
Resources such as machinery, buildings, and equipment used in the production of goods and services.
Dormitories
Residential facilities provided by educational institutions for students to live in.
- Understand the significance of capital and labor in the formation of production expenses.
Verified Answer
JS
Jamal SaundersApr 29, 2024
Final Answer :
C
Explanation :
The dormitories of Eastland College are part of its capital, which refers to the resources used in the production process, such as buildings, equipment, and other physical assets. The other options do not accurately describe the dormitories' role in the production of education.
Learning Objectives
- Understand the significance of capital and labor in the formation of production expenses.