A factor of production whose quantity can be changed in the SHORT run is a(n)_____ factor of production.
A) marginal
B) fixed
C) incremental
D) variable

Question

Quizplus · Accepted Answer

A variable factor of production is one that can be changed in the short run, such as labor or raw materials. In contrast, fixed factors of production, such as machinery or buildings, cannot be easily changed or adjusted in the short run. Therefore, option D, "variable," is the best choice.

A Factor of Production Whose Quantity Can Be Changed in the SHORT