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Sandra Tomlin
on Oct 27, 2024

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In economics,the short run is defined as:

A) less than 1 year.
B) less than 6 months.
C) the period in which some inputs are considered to be fixed in quantity.
D) the period in which some inputs are fixed,but it cannot exceed 1 year.

Short Run

A period in economics during which at least one input is fixed and cannot be changed, limiting the ability of a firm to adjust to market changes.

Fixed Inputs

Resources used in the production process whose quantity cannot easily be changed in the short run, such as buildings and machinery.

  • Understand the concept of short and long run in economics and their implications on inputs.
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KF
Katherine FernandezNov 01, 2024
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