Which of the following factors of production is most likely to be variable in the short run?
A)technology
B)capital equipment
C)labour
D)entrepreneurship
E)land

Question

Quizplus · Accepted Answer

Labor is the most likely factor of production to be variable in the short run because it's relatively easy to adjust the amount of labor a firm uses. In contrast, it's very difficult for a firm to quickly or easily adjust its supply of capital equipment, land, or technology. Entrepreneurial ability is a factor that influences all other factors but is not a factor itself, so it is not relevant to this question.

Which of the Following Factors of Production Is Most Likely