The short run is a period of time
A) when all input prices have adjusted to clear markets.
B) when all prices have adjusted to equilibrium prices.
C) when some prices have not adjusted to clear markets.
D) shorter than 10 years.
E) shorter than 1 year.

Question

Quizplus · Accepted Answer

In the short run, some prices may not have adjusted to clear markets, meaning that there may be price stickiness or market imperfections that prevent all prices from reaching equilibrium. The other options do not accurately describe the short run.

The Short Run Is a Period of Time