variable factor input

a FACTOR INPUT to the production process that can be readily varied in the SHORT RUN so as to expand or reduce output within a plant of fixed size. Variable inputs include raw materials, heating and lighting. Variable costs are equal to the quantities of variable inputs used, multiplied by their prices. See also FIXED FACTOR INPUT, RETURNS TO THE VARIABLE FACTOR INPUT.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

Mentioned in

average cost
average physical product
average revenue product
constant returns
diminishing returns
fixed factor input
isoquant map
marginal cost
marginal physical product
Marshall, Alfred
overutilized capacity
returns to the variable factor input
shift system
short run
total cost
total physical product
underutilized capacity
variable costs

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