Which of the following factors of production is most likely to be variable in the short run?
A)capital equipment
B)land
C)labour
D)entrepreneurship
E)technology

Question

Quizplus · Accepted Answer

Labour is the most likely factor of production to be variable in the short run because it is easier to adjust the number of workers in the workforce compared to capital equipment, land, entrepreneurship, or technology. In the short run, a company can hire or lay off workers depending on the demand for their products or services.

Which of the Following Factors of Production Is Most Likely