Which of the following inputs is normally considered to be variable in the short run?
A)labor
B)raw materials
C)capital
D)Both A and B

Question

Quizplus · Accepted Answer

In the short run, labor and raw materials are considered variable inputs because their quantities can be adjusted relatively quickly to meet changes in demand. Capital, on the other hand, is typically fixed in the short run due to the time and expense involved in altering the capital stock.

Which of the Following Inputs Is Normally Considered to Be