The Short Run Is a Time Frame in Which

question 141

Multiple Choice

The short run is a time frame in which

• A)the firm is not able to hire more workers.
• B)the amount of output produced is fixed.
• C)there is a shortage of most factors of production.
• D)at least one factor of production is fixed.
• E)there is not enough time to make all of the decisions necessary to maximize profit.

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Definitions:

Duress

Any unlawful act or threat exercised on a person whereby the person is forced to enter into an agreement or to perform some other act against his or her will.

Physical Harm

Damage or injury to a person's body.

Legal Assent

An agreement to enter into a contract that is recognized by law, marked by the understanding and agreement to the terms by all parties involved.

Contract Dispute

A disagreement between parties regarding the terms, performance, or understanding of a contract.