which factor of production is least mobile
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ᴄᴀᴘɪᴛᴀʟ ɪs ᴀ ᴍᴀɴᴍᴀᴅᴇ ғᴀᴄᴛᴏʀ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ. ɪᴛ ɪs ᴍᴏʙɪʟᴇ. ɪᴛ ɪs ᴀ ᴘᴀssɪᴠᴇ ғᴀᴄᴛᴏʀ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ.
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Answer:
The land has no cost of production. It is immobile.
Explanation:
Factor mobility. refers to the ability to move factors of production—labor, capital, or land—out of one production process into another.
Labor is mobile. The economy produces two goods using three factors of production, capital, land and labor in a perfectly competitive market. Labor is the mobile factor, and there are two specific factors, K and T.
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