answer

watching

views

blushraccoon42Lv1

11 Dec 2019

Economists generally define the short run as being:

A. That period of time in which at least one of the firm's inputs, usually plant size, is fixed.

B. That period of time in which all inputs are variable.

C. Any period of time less than one year.

D. Any period of time less than six months.

answer

watching

135

views

For unlimited access to Homework Help, a Homework+ subscription is required.

You have 0 free answers left.
Get unlimited access to 3.8 million step-by-step answers.

Get unlimited access

Already have an account? Log in

Joshua StredderLv10

11 Oct 2020

Unlock all answers

Get 1 free homework help answer.

Already have an account? Log in

Related questions

Which of the following statements best describes the economic short run?

A. It is a period of one year or less.

B. It is a period during which at least one of the firm's inputs is fixed.

C. It is a period during which firms are free to vary all of their inputs.

D. It is a period during which fixed inputs become variable inputs because of depreciation.

bluereindeer374

24. To economists, the main difference between the short run and the long run is that a. the law of decreasing marginal returns applics in the long run but not in the short run. b. in the short run, all inputs are fixed while in the long run all inputs are variable. c. fixed costs are more important to decision making in the long run than they are in the short run. d. in the long run all inputs are variable while in the short run at least one input is fixed. e. a and d.

Question 21

At least in theory, the more competition there is in the market, the greater also is the efficiency in the economy.

True

False

Question 22

Total fixed cost curve shows that fixed costs vis-Ã -vis production levelsdon't change.

True

False

Question 23

A firm's economic profit is usually higher than its accounting profit.

True

False

Question 24

The short run is a period of time when all factor inputs are fixed.

True

False

Question 25

In general, the product price is higher in an oligopolistic market than thatof monopolistic competition.

True

False

Weekly leaderboard

Home

Homework Help 3,900,000

Economics 400,000

Economists generally define the short run as being:

A. That period of time in which at least one of the firm's inputs, usually plant size, is fixed.

B. That period of time in which all inputs are variable.

C. Any period of time less than one year.

D. Any period of time less than six months.

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

Weekly leaderboard

Economists generally define the short run as being: A. That period of time in which at least one of the firm's inputs, usually plant size, is fixed. B. That period of time in which all inputs are variable. C. Any period of time less than one year. D. Any period of time less than six months.

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

Weekly leaderboard

Economists generally define the short run as being:

A. That period of time in which at least one of the firm's inputs, usually plant size, is fixed.

B. That period of time in which all inputs are variable.

C. Any period of time less than one year.

D. Any period of time less than six months.