The short run as the term is used in connection with the theory of the firm is a period of time:
A)too short for the firm to vary all its inputs
B)no more than a week
C)long enough for the firm to vary the quantity of all its inputs
D)in which the fixed costs are zero

Question

Quizplus · Accepted Answer

In the short run, a firm can vary some but not all of its inputs. Fixed inputs (like buildings and machinery) cannot be changed, while variable inputs (like labor and raw materials) can be adjusted. Choices B, C, and D do not accurately describe the concept of the short run in economic theory.

The Short Run as the Term Is Used in Connection