In the long run, which of the following factors of production is fixed for a firm? a. technology. b. labor. c. capital. d. none of the above.

d. None of the above because all factors are variable in the long run.

Explanation:

In economics, you can talk about a short-term and long-term production and to establish the differences between the two it is necessary to know the meaning of each of these.

When talking about short and long term, emphasis is placed on the possibility of changing and modifying certain factors related to production, and not exactly how long it lasts.

That is, the long term is defined as the time needed where the factors of production are variable. While the short term, is the time where at least one factor remains constant with the presence of another variable factor.

The duration of this period is not defined, so it can last from a few days to several years. In this way, it is possible to say that the main difference between the two periods is the production process which differs, where capital endowment is necessary.

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