Define fixed factor of production varial factor of production short ru

1.	Define fixed factor of production varial factor of production short run and long run
Answer» Answer: Short RUN – where one factor of PRODUCTION (e.g. capital) is fixed. This is a TIME period of fewer than four-six MONTHS. Long run – where all FACTORS of production of a firm are variable (e.g. a firm can build a bigger factory) A time period of greater than four-six months/one year. Explanation:..

Define fixed factor of production varial factor of production short run and long run

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Answer:

Short RUN – where one factor of PRODUCTION (e.g. capital) is fixed. This is a TIME period of fewer than four-six MONTHS. Long run – where all FACTORS of production of a firm are variable (e.g. a firm can build a bigger factory) A time period of greater than four-six months/one year.

Explanation:..

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Define fixed factor of production varial factor of production short run and long run​

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Define fixed factor of production varial factor of production short run and long run