In Economics, the Short Run Is the Time Frame in Which

question 91

Multiple Choice

In economics, the short run is the time frame in which the quantities of ________ and the long run is the period of time in which ________.

• A) some factors of production are variable; the quantities of all factors of production are fixed
• B) all factors of production are variable but technology is fixed; technology is variable
• C) all factors of production are fixed; the quantities of all factors of production can be varied
• D) some factors of production are fixed; the quantities of all factors of production can be varied

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Definitions:

Lowest 96%

Suggests the minimal value or percentile in a dataset or series of observations, positioned at 96%.

Z < 0.97

Describes the area under the normal distribution curve to the left of Z = 0.97, including all values less than this Z-score.

Highest 86%

Refers to the maximum value or percentile, likely in a set of data or scores, being at or reaching 86%.

Highest 7%

Refers to the top seven percent of a distribution or set of data points, often used in statistical analysis to identify outliers or exceptional cases.