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6 Oct 2020
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.
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.
Prachi DabasLv10
23 Nov 2020
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Related questions
The distinction between the short-run and the long-run for a perfectly competitive firm or a monopolist is that:
| a. in the short-run all inputs are fixed whereas in the long-run no inputs are fixed |
| b. in the short-run all inputs are variable whereas in the long-run all inputs are fixed |
| c. in the short-run at least one input is fixed whereas in the long-run all inputs are fixed |
| d. in the short-run at least one input is fixed whereas in the long-run no inputs are fixed |
