Define fixed factor as it applies to production.

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asked Jul 25, 2018 177k views

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Shuddh · Answer 1 · 2018-07-30T19:46:20+0000

A fixed factor of production is one who quantity can not be changed. Examples include major pieces of equipment, suitable factory space. A variable factor of production is one whose usage rate can be changed easily.

Define fixed factor as it applies to production.

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