With respect to production,the short run is best defined as a time period
A) lasting about six months.
B) lasting about two years.
C) in which all inputs are fixed.
D) in which at least one input is fixed.

Question

Quizplus · Accepted Answer

The short run is defined as a time period in which at least one input is fixed while others can be adjusted. This means that the production process can only be altered to a limited extent, as certain factors like machinery or labor cannot be changed in the short run. Therefore, option D is the correct answer. Option A and B are incorrect as they do not provide any logical or empirical basis for defining the short run. Option C is incorrect as it is an extreme case where all inputs are fixed, which is unlikely to occur in most production situations.

With Respect to Production,the Short Run Is Best Defined as a Time