Asked by Abdullah Ghzzai Ghazi Albeladi on May 10, 2024
Verified
(Table: Tonya's Production Function for Apples) Use Table: Tonya's Production Function for Apples.In the short run,Tonya's variable input(s) is/are:
A) land.
B) labor.
C) land and labor.
D) neither land nor labor.
Variable Input(s)
Inputs or resources whose quantity can be changed in the short term to adjust the level of production.
Short Run
A period in economics where at least one factor of production is fixed, limiting the adjustments a firm or industry can make.
- Comprehend the principles of fixed and variable expenses in manufacturing.
- Differentiate between short-term and long-term production planning.
Verified Answer
GH
Gabrielle HaynesMay 14, 2024
Final Answer :
B
Explanation :
In the short run, Tonya's variable input is labor, as the land is fixed and cannot be adjusted in the short run.
Learning Objectives
- Comprehend the principles of fixed and variable expenses in manufacturing.
- Differentiate between short-term and long-term production planning.
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