For each of the following decisions determine whether the manager is in
-A grocery store manager decides to stay open 24 hours a day rather than 16.
A) short run
B) long run

Question

For each of the following decisions determine whether the manager is in 
-A grocery store manager decides to stay open 24 hours a day rather than 16.
A) short run
B) long run

Quizplus · Accepted Answer

In the short run, a firm can change its level of output by adjusting the number of hours it operates, but it cannot alter its fixed inputs, such as the size of its physical store. Deciding to stay open longer hours is a variable adjustment, not a change in fixed capital or long-term capacity.

For Each of the Following Decisions Determine Whether the Manager