Examlex
According to the second formulation of the Categorical Imperative,
Variable Inputs
Resources or factors of production whose quantity can be changed in the short term to influence output.
Fixed
Fixed typically refers to costs or assets that do not change in the short term, regardless of the level of output or activity.
Short Run
A period in economic analysis during which at least one input is fixed, limiting the ability of firms to adjust to changes in market conditions.
Marginal Product
The growth in production resulting from one more unit of input, while keeping all other inputs the same.
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