Question

Distinguish between fixed input and variable input

Answer 1

♢ANSWER♢

Fixed Input

⚫An input whose quantity cannot be changed in the time period under consideration.

⚫The relevant time period is usually termed the short run.

⚫The most common example of a fixed input is capital.

⚫ The alternative to fixed input is variable input.

Variable Input

⚫An input whose quantity can be changed in the time period under consideration.

⚫The most common example of a variable input is labor.

⚫Variable inputs provide the means used by a firm to control short-run production.

⚫ The alternative to variable input is fixed input.

Hope it helps............♡

Answer 2

Difference between fixed input and variable input:

• Fixed inputs can’t be increased or decreased in a short period.
• They define the firm’s maximum output capacity.
• Fixed inputs do not change when the output changes.
• Variable inputs can be increased or decreased in a short period.
• Variable inputs change when the output changes.