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Sally Elghdaf
on Oct 27, 2024

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In the short run:

A) all inputs are fixed.
B) all inputs are variable.
C) some inputs are fixed and some inputs are variable.
D) all costs are variable.

Short Run

A time period in economics during which at least one factor of production is considered fixed, limiting the ability of the economy or firm to adjust to changes.

Fixed Inputs

Inputs in the production process that cannot be easily increased or decreased in the short run, such as land or machinery.

Variable Inputs

Resources used in production that can vary in quantity in the short run, such as labor and raw materials.

  • Gain insight into the correlation between stable and variable factors.
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Diana MarfoOct 28, 2024
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