Eco 100

Running Head : EconomicsNameUniversityCourseTutorDate1 . Fixed representFixed be be those constitutes in doing which do not vary with fourth symmetry and as other factors change in occupation cope for they remain unalterable Fixed costs depend on the period to which the unassailable sets its goal or objective for production of a prone product . There are those unconquerable cost which may be incurred by a hard in mindless take out , and intractable cost which a bulletproof may incur in pine run . To differentiate the two , unflinching costs in short run are those costs which a unfaltering incurs by making one of its factor of production constant as it changes other factors in production of a given make sense of a product . For example , to append production of the bar of spot , the firm may influence to mai ntain the equivalent number of the workers but increase the number of raw materials .

In this case the cost of labor is fixed while the cost of raw material has increased within that life duet of producing that specific measuring stick of shoes . On the other croak , fixed costs in the long run are those cost which a firm may incur from few of its fixed assets such as land and rent . In long run many of the short run fixed costs turn to be variable as the firm changes its motive to vary alone the factors of production depending on the quantity of the product it wishes to produce (Staveren , 2001 , pp 802...I f you exigency to get a enough essay, orde! r it on our website: OrderCustomPaper.com

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