To Economists, the Main Differences Between "The Short Run" and "The

question 125

Multiple Choice

To economists, the main differences between "the short run" and "the long run" are that

• A)the law of diminishing returns applies in the long run, but not in the short run.
• B)in the short run all resources are fixed, while in the long run all resources are variable.
• C)fixed inputs are more important to decision making in the long run than they are in the short run.
• D)in the long run all resources are variable, while in the short run at least one resource is fixed.

---

Definitions:

Resolve

The determination to do something or the process of finding a solution to a problem.

Contribute

To give or supply in common with others; to add a part to a collective whole.

Solution-based Approaches

These are therapeutic methods that focus on finding solutions to current problems rather than analyzing their root causes, emphasizing the client's strengths and resources.

Envision

The act of imagining or picturing something in the mind, especially regarding future plans or goals.