The short run refers to a time period
A)of one year or less.
B)in which all factors of production are variable.
C)in which all factors of production are fixed.
D)in which some factors of production are variable,but at least one factor of production is fixed.
E)in which all factors of production are variable,but the technology is fixed.

Question

Quizplus · Accepted Answer

In the short run, some factors of production are variable but at least one factor of production is fixed. This means that some inputs can be adjusted while others remain constant. For example, a company may be able to increase its production in the short run by hiring more workers, but it may not be able to expand its factory space or purchase new equipment. The time period for the short run is not defined by a specific length of time, but rather is determined by the flexibility of the inputs.

The Short Run Refers to a Time Period