A factor of production that cannot be easily changed in the relevant time period is called a
A)short-run factor.
B)fixed input.
C)variable input.
D)production anchor.

Question

Quizplus · Accepted Answer

A fixed input is a factor of production that cannot be easily changed in the short-run period, such as machinery or factory space. This is in contrast to a variable input, such as labor, which can be easily adjusted. Production anchor and short-run factor are not commonly used terms in the economics of production.

A Factor of Production That Cannot Be Easily Changed in the Relevant