Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:
In the long run, there is __________ fixed factor.
Options:
One
Many
No
At least one
Correct Answer:
No
Explanation:
In the long run, all factors of production can be varied. A firm in order to produce different levels of output in the long run may vary both the inputs (labour and capital) simultaneously. So, in the long run, there is no fixed factor.