Homework Answers
Flour in cakes : Variable
Fuel in airplanes: Variable
Ventilation fans in nail salons: Fixed
Insurance for rental house: Fixed
Occupancy permit in restaurant: Fixed
Depreciation in rental housing: Fixed
Explanation:
Fixed inputs are fixed in nature. It means it's quantity do not change when level of output changes. So, ventilation fan, Insurance, occupancy permit and depreciation charges are fixed inputs in short run.
On the other hand, variable inputs changed as level of output changes. So, flour and fuel are variable inputs.
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