To an economist, the short run refers to a time period:
A) of less than one year.
B) during which all factors of production are variable.
C) during which production takes place using only fixed factors of production.
D) during which production takes place using some variable and some fixed factors of production.
Correct Answer:
Verified
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A) replacing
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Q38: In economics, production time frames are determined
Q40: If a business can change the amounts
Q41: In the short run, all factors of
Q42: To an economist, the long run refers
Q43: A firm can vary the amounts of
Q44: Fixed factors of production:
A) do not exist
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