Which of the following factors of production is not variable in the long run?
A) the size of the firm's plant.
B) property taxes on the assets of the firm.
C) highly trained labor.
D) All factors of production are variable in the long run.

Question

Quizplus · Accepted Answer

In the long run, all factors of production, including the size of the firm's plant, property taxes, and highly trained labor, are considered variable because firms have enough time to adjust all inputs according to their production needs.

Which of the Following Factors of Production Is Not Variable