An input whose price is often fixed in both the immediate-short-run and short-run is

Multiple Choice
labor, due to labor contracts.
gasoline, due to supply issues.
both A and B.
neither A nor B.

1 answer

The correct answer is both A and B.

In the immediate short run and short run, labor costs can be influenced by labor contracts that fix wages for a certain period of time, leading to inflexibility in the short term. Similarly, gasoline prices can also be fixed in the short run due to supply chain issues or contracts, making both inputs relatively stable in their pricing over these time frames.