Production in the short run requires
A)no factor of production.
B)both fixed and variable factors of production.
C)variable factors of production only.
D)fixed factors of production only.
E)the difference between fixed and variable factors of production.

Question

Quizplus · Accepted Answer

In the short run, some factors of production are fixed while others can be varied. The fixed factors would be capital, land, and resources, while variable factors would be labor and raw materials. Therefore, production in the short run requires both fixed and variable factors of production.

Production in the Short Run Requires