During the short-run period of the production process,a firm is:
A) unable to vary any of its factors of production.
B) able to vary only some of its factors of production.
C) able to vary all of its factors of production.
D) able to vary the size of its plant.

Question

Quizplus · Accepted Answer

During the short-run period, a firm is able to vary only some of its factors of production, such as labor and raw materials, while other factors like capital and technology remain fixed. This is because in the short run, the firm cannot easily change the size of its plant or its production processes.

During the Short-Run Period of the Production Process,a Firm Is