Answer to Question #258158 in Microeconomics for desteen

Question

Which of the following is true about production function? A. Labor is constant in the short-run since it is easy to add workers than machine B. Capital is a variable resources in the short-run since machines, buildings and vehicles cannot be operated without workers C. Capital is constant in the short-run since it takes time to change the set of machine and building the firm have. D. All of the above

Answer 1

The true statement about production function is that capital is constant in the short-run since it takes time to change the set of machine and building the firm have