The short run is defined as that period of time during which
A)one or more inputs cannot be freely varied.
B)all inputs are variable.
C)all inputs are fixed.
D)labor is counted as a fixed input.

Question

Quizplus · Accepted Answer

In the short run, at least one input is considered fixed and cannot be freely varied. While other inputs can be adjusted, there is a limit to the change that can be made to the fixed input. Therefore, option (A) is the correct answer. Option (B) is incorrect as it suggests that all inputs can be varied, which is not true for the short run. Option (C) is incorrect as it suggests that all inputs are fixed, which is not true for the short run. Option (D) is only partially correct as it is true that labor is often considered a fixed input in the short run, but it does not provide a complete definition of the short run.

The Short Run Is Defined as That Period of Time