Economists usually assume that labor is ________ input in the ________ run.
A) a fixed; short
B) a fixed; long
C) a variable; short
D) part fixed and part variable; long

Question

Quizplus · Accepted Answer

In the short run, firms can adjust their output levels by changing the amount of variable inputs used, such as labor. However, in the long run, all inputs are variable, which means that firms can adjust their production levels by changing the amount of both fixed and variable inputs. Therefore, labor is considered a variable input in the short run.

Economists Usually Assume That Labor Is ________ Input in the ________

Economists Usually Assume That Labor Is Input in the