A factor of production whose level cannot be adjusted in the time period under investigation is a fixed factor of production.

Name: A factor of production whose level cannot be adjusted in the time period under investigation is a fixed factor of production.
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Question

Quizplus · Accepted Answer

A fixed factor of production, such as a factory or a piece of land, cannot be easily adjusted in the short term. It is considered to be a fixed input in the production process.

A Factor of Production Whose Level Cannot Be Adjusted in the Time