Help with microeconomics

Economics
Tutor: None Selected Time limit: 1 Day

Identify one company and the type of business (restaurant, gas station, etc.) What do you think are the fixed factors of production for the short run?

Feb 16th, 2015

Consider a Restaurant.

Fixed factors of production are those that cannot be increased in the short run

In a restaurant they include;The cookers,that is ,the machines used for cooking

The land,The land the restaurant is operating from is also fixed in the short run 

In Micro-economic theory,Generally capital is fixed in the short run.


Please appreciate my help by choosing my answer as the best.Thank you

Feb 16th, 2015

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