A. techniques of production can easily be changed
B. all factors of production are vaiable
C. at least a factor is fixed while others are variable
D. variable factors cannot be changed
Correct Answer:
Option C = at least a factor is fixed while others are variable
Explanation
The short-run production phase refers to a production cycle in which at least one factor of production is fixed.
300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…