Which of the following statements is false?
A)The short run refers to a period of less than one year.
B)In the long run, all inputs can vary in quantity.
C)Firms may continue operating at a loss in the short run.
D)In the long run, firms would not continue operating at a loss.

Question

Quizplus · Accepted Answer

The definition of the short run in economics does not specify a fixed time period such as "less than one year"; it varies depending on the context and is defined as a period in which at least one input is fixed.

Which of the Following Statements Is False