The Main Difference Between the Short Run and the Long

question 95

Multiple Choice

The main difference between the short run and the long run is that:

• A)in the short run all inputs are fixed, while in the long run all inputs are variable.
• B)in the short run the firm varies all of its inputs to find the least-cost combination of inputs.
• C)in the short run, at least one of the firm's input levels is fixed.
• D)in the long run, the firm is making a constrained decision about how to use existing plant and equipment efficiently.

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Definitions:

Talent Management

encompasses the strategic efforts of identifying, recruiting, developing, and retaining individuals to meet current and future organizational needs.

Vacancy Risk

The potential negative impact on an organization due to key positions being unfilled or having high turnover, affecting the business's operation and performance.

Readiness Risk

The potential for failure or setbacks in executing a project or strategy due to the lack of preparedness or ability to respond to changes and challenges.

Performance Risk

The potential threat that an action or strategy may not achieve its intended results or performance goals.