The short run is the period after all exit and entry has occurred.

Name: The short run is the period after all exit and entry has occurred.
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Question

Quizplus · Accepted Answer

The statement is incorrect. The short run is the period in which at least one factor of production is fixed and cannot be changed, regardless of entry or exit. The long run is the period after all factors of production are flexible and can be adjusted, including entry and exit.

The Short Run Is the Period After All Exit and Entry