What is production function? Distinguish between fixed inputs and vari – InterviewSolution

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1.	What is production function? Distinguish between fixed inputs and variable. Is the distinction between the two relevant in the long run?
Answer» Fixed inputs do not change as output changes. VARIABLE inputs are those that can easily be INCREASED or decreased in a SHORT period of time. The PIZZAIOLO can order more ingredients with a phone call, so ingredients would be variable inputs.

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