Final answer:
In the context of running a restaurant, cooks and hosts are variable inputs because their numbers can change quickly, and wholesale food items like cheese are also variable inputs due to their adjustability in ordering. Valet parking staff can be variable in the long run, and a building is a fixed input in the short run due to lease agreements.
Step-by-step explanation:
When considering whether valet parking staff, cooks and hosts, a building, or cheese and other wholesale food items are fixed or variable inputs, it's important to understand the difference between these two types of inputs and how they relate to the short and long run in the production function represented by the formula Q = f[L, K], where L represents variable inputs and K represents fixed inputs. Fixed inputs are those that cannot be easily changed in the short run, such as the building for a restaurant, which is typically bound by a lease agreement. On the other hand, variable inputs can be readily adjusted according to business needs, like ordering more food items or hiring additional staff.
Correct Options
- Cooks and hosts would be considered variable inputs because their number can fluctuate with the demand of the restaurant.
- Cheese and other wholesale food items would be variable inputs in both the short and long run because they can be ordered and adjusted on a regular basis as needed.
Therefore, options a) and c) do not accurately represent fixed or variable inputs in the context of a production function, as valet parking staff can be a variable in the long run and a building is a fixed input during the lease period in the short run.