The short run is a period of time:
A) in which a firm uses at least one fixed input.
B) that is long enough to permit changes in the firm's plant size.
C) in which production occurs within one year.
D) in which production occurs within six months.

Question

Quizplus · Accepted Answer

The short run is a period of time in which at least one input is fixed. This means that the firm cannot adjust its level of production by changing the quantity of that input in the short run. The variable input can be adjusted to increase or decrease production, but the fixed input cannot. The length of the short run can vary depending on the industry and the firm, but it is typically less than a year. Therefore, choice A is the best answer because it accurately describes the characteristics of the short run.

The Short Run Is a Period of Time