Asked by
Takethia Dugger
on Oct 12, 2024Verified
A variable input is an input that can change
A) in the short run but not in the long run.
B) in the long run but not in the short run.
C) in both the long run and the short run.
D) without changing the level of output.
Variable Input
An input in the production process that can be altered in the short term to adjust the level of output.
Output
Output is the total amount of goods and services produced by an economy or business over a set period, quantifying productivity and economic activity.
- Identify the differences in operational decisions for the short-run and long-run, focusing on costs and inputs.
Verified Answer
RF
Learning Objectives
- Identify the differences in operational decisions for the short-run and long-run, focusing on costs and inputs.