Candice is a jewelry shop owner, specializing in beaded necklaces. For each of the following inputs, classify each item as a variable input or a fixed input in the long run.

i. Shipping
ii. Chairs
iii. Upper Managment salary
iv. Beads
v. Hourly Labour
vi. Computers
vii. 2 years Lease on office and rental space

Short run is a period in which few factors (inputs) of business can be changed. Fixed Inputs are inputs of the business which are constant in short run. Variable Inputs are inputs of business which are change-able in short run.

Fixed Inputs : Chairs , Upper Management Salary, Computers , 2 Years lease on office & rental space. As, these can't be changed in short run.

Variable Inputs : Shipping , Beads , Hourly Labour. As, these can be changed in short run.

ayfat23 ayfat23 · Answer 2 · 2021-09-27T16:55:09+02:00

Fixed Inputs from the option that can not be changed in the short run are;

Computers

Upper Management Salary

Years of lease on office & rental space

Chairs

Variable Inputs from the option that can be changed in short run are:

Hourly Labour

Shipping

Beads

Short-run can be regarded as time horizon in business whereby factors of production are fixed, though labor remains variable. It is period whereby some inputs of the business can undergo some changes

Variable Inputs can be regarded as inputs in business Suh as Hourly labour which can be changed in the business in short run.

Fixed Inputs can be regarded as inputs such as Computers that can be used in the business for very long term, they cannot be changed in short run.

Therefore, In short-run fixed variables doesn't change.

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