Discuss the differences between fixed factors arid variable factors of production

Fixed factors	Variable factors
(i) Fixed factors exist only in the short-run.	(i) Variable factors exist both in the short-run and long-run.
(ii) It is independent of output in the short-run.	(ii) It changes with the change of output in the short-run.
(iii) Plant, machines etc are the examples of fixed factors.	(iii) Labor, raw materials etc are the examples of variable factors.
(iv) It exists even in the zero level of output.	(iv) When output is zero quantities of variable factors are reduced to zero.