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Pls help me answer these 2 questions for my Econ Test on Tuesday plzzzz!!!!

1) What is the difference between Fixed Resources and Variable Resources?
2) What is the difference between Short Run and Long Run?

User Cynicalman
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1 Answer

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Answer:

1: A fixed resource is any resource that will always be available with a room arrangement where as Variable resources are electricity producers whose output amount and availability can vary due to the nature of fuel being used - for example, wind, solar, or run-of-river hydro. .

2: The short run is a period of time in which the quantity of at least one input is fixed and the quantities of the other inputs can be varied where as the long run is a period of time in which the quantities of all inputs can be varied.

Step-by-step explanation:

hope it helps!

User AndreaG
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