The short run is characterized by
A)plenty of time for firms to either enter or leave the industry.
B)increasing but not diminishing returns.
C)fixed plant capacity.
D)zero fixed costs.

Question

Quizplus · Accepted Answer

In the short run, at least one factor of production (typically capital, such as plant capacity) is fixed, meaning it cannot be adjusted. This contrasts with the long run, where all factors of production can be varied.

The Short Run Is Characterized by