Economics 9708 · AS & A Level · Factors of production

Factors of production — practice question

Which of the following statements about factors of production is correct?

  • AIn the short run all factors are fixed; in the long run all factors are varied.
  • BIn the short run at least one factor is fixed; in the long run all factors can be varied.
  • CIn the short run at least one factor is varied; in the long run all factors are fixed.
  • DIn the short run at least one factor is varied; in the long run at least one factor is fixed.

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