Economists define the short run as a period of time so short that
A) the amount of output cannot be changed except under diminishing marginal returns.
B) the amount of output cannot be changed at all.
C) only one factor of production can be varied.
D) at least one factor of production cannot be varied.
Correct Answer:
Verified
Q1: The short run is a period of
Q2: The long run is a period of
Q4: An example of a short-run fixed factor
Q5: All the decisions made by people who
Q6: In the short run
A) all factors of
Q7: The short run is a time frame
Q8: The short run is a time frame
Q9: The long run is a time frame
Q10: The short run is a time period
Q11: An example of a variable factor of
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