In economics, the short run is the time frame in which the quantities of ________ and the long run is the period of time in which ________.
A) some factors of production are variable; the quantities of all factors of production are fixed
B) all factors of production are variable but technology is fixed; technology is variable
C) all factors of production are fixed; the quantities of all factors of production can be varied
D) some factors of production are fixed; the quantities of all factors of production can be varied

Question

Quizplus · Accepted Answer

In the short run, some factors of production are fixed, meaning they cannot be changed, while in the long run, all factors of production can be varied, allowing for adjustments in all inputs.

In Economics, the Short Run Is the Time Frame in Which