What is fixed factor ??
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⇒ Fixed factors are those that do not change as output is increased or decreased, and typically include premises such as its offices and factories, and capital equipment such as machinery and computer systems.
⇒A fixed factor is one, whose quantity cannot readily be changed in response to desired changes in output or market conditions.
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Heyaa Mate ❤️
A fixed factor is one, whose quantity cannot readily be changed in response to desired changes in output or market conditions.
Its quantity remains the same, whether the level of output is more or less or zero. Buildings, land, machinery, plants and top management are some common examples of fixed factors.
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