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.

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Definitions:

Opt/o

A prefix in medical terms relating to sight or the eyes, used in conditions, procedures, and specialties concerning vision.

Tars/o

A prefix in medical terminology relating to the ankle or ankle bones.

Posterior

A term denoting the back or rear position of a structure in relation to other structures of the body.

Anterior

Located towards the front of the body in anatomical positions.