The short run is the amount of time such that:
A)all inputs are variable.
B)all inputs are fixed.
C)some inputs are variable and some are fixed.
D)the firm can maximize its profits.

Question

Quizplus · Accepted Answer

In the short run, some inputs such as labor may be variable, while other inputs such as capital may be fixed. Therefore, the correct choice is C. A is incorrect because all inputs are not necessarily variable in the short run. B is incorrect because all inputs are not necessarily fixed in the short run. D is incorrect because profit maximization is not necessarily the defining feature of the short run.

The Short Run Is the Amount of Time Such That