Asked by
babiker Ahmed
on Oct 12, 2024
Verified
As long as there are __________ costs,we are in the short run.
A) variable
B) fixed
C) marginal
D) average
Fixed Costs
Operating expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Short Run
This term refers to a timeframe in economic analysis where at least one factor of production is considered fixed, distinguishing short-term operational decisions from long-term planning.
- Understand the distinction between fixed and variable costs.
Verified Answer
ME
Learning Objectives
- Understand the distinction between fixed and variable costs.