The short run is
A) a year or less.
B) up to three years.
C) the period of time in which the firm can vary its rate of output.
D) the period of time in which the firm cannot change its use of at least one input.

Question

Quizplus · Accepted Answer

The short run is defined as the period of time in which the firm cannot change its use of at least one input. This means that the firm is constrained in its production decisions, which can have implications for its cost structure and profitability. The length of the short run can vary depending on the industry and specific circumstances but is generally less than three years.

The Short Run Is