The production function of a restaurant includes items such as labor (i. e., cooks, waiters, a manager), capital (i. e., ovens, counters, tables, chairs, and a building), and land. in the short run, the owner of the restaurant will optimize production by employing a variable amount of given a fixed amount of

a. labor, capital and raw materials
b. capital, labor and land
c. land, capital and labor
d. land, labor and raw materials
e. labor, capital and land

correct option is e

first blank contains labor, second blank contain capital and land

Explanation:

The production feature describes the relationship among production inputs and outputs. Assume at least one fixed output-input variable in the short-run output function. Therefore, labor is the variable source in the short-run production model, and remaining of the factor inputs are fixed inputs.

In the statement provided, a restaurant's manufacturing role is a process involves labor (including waiters, cooks, a manager), capital (including table, chairs, counters, and building) and property. If the restaurant owner wants to maximize brief-run production, then he has to use labor as a flexible source, and capital and land as set inputs.

therefore, first blank contains labor, second blank contain capital and land

answer; encouraging the development of innovations by firms attempting to break a monopoly; (creative destruction)