A Fixed Factor of Production

question 40

Multiple Choice

A fixed factor of production:

• A)is fixed in the long run but variable in the short run.
• B)is fixed only in the short run.
• C)is fixed in both the short run and the long run.
• D)is common in large firms but rare in small firms.

---

Definitions:

Legally Defensible

A position, action, or decision that can be successfully upheld and justified in a court of law.

Performance Appraisals

The process of evaluating an employee's job performance and productivity, usually against pre-established criteria or objectives.

Legally Defensible

A position, action, or decision that can be successfully upheld in a court of law.

Performance Appraisals

The systematic evaluation of the performance of employees and to understand the abilities of a person for further growth and development.