Unformatted text preview: according to the varying quantity of output. These are variable factors of production. Fixed factors are indivisible while variable factors are divisible into small units. Fixed factors are supplementary in nature . Machines make productive activity more convenient and efficient. However, even in their absence, output of some volume can be produced . Variable factors are called prime factors without which no output can be produced....
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This note was uploaded on 11/26/2011 for the course ECONOMIC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10