The short run is the time frame
A) during which all costs are implicit costs.
B) that is less than a year.
C) during which the quantities of some resources are fixed.
D) during which the quantities of all resources are fixed.
E) during which the quantities of all resources are variable.

Question

Quizplus · Accepted Answer

In the short run, at least one resource is fixed, meaning that a firm cannot change the quantity of that resource during this time frame. This is in contrast to the long run, during which all resources are variable.

The Short Run Is the Time Frame