In the short run, at least one factor of production is fixed, and firms cannot enter or leave the industry.

Name: In the short run, at least one factor of production is fixed, and firms cannot enter or leave the industry.
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In the short run, at least one factor of production (such as capital) is fixed, and the number of firms in the industry is also fixed, meaning firms cannot freely enter or exit the market.

In the Short Run, at Least One Factor of Production