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When a chef prepares a dinner for a customer, which of the following is physical capital?...

When a chef prepares a dinner for a customer, which of the following is physical capital?

the oven
the chef
the chef's training and experience
the food ingredients
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Answer #1

The physical capital is tools or machines which are used for the production of goods and services. It does not change with the production of output

So in the given example the oven is a physical capital because it satisfies the physical capital definition.

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