The Main Difference Between the Short Run and the Long

question 87

Multiple Choice

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

• A)firms earn losses in the long run, but not in the short run.
• B)the long run always refers to a time period of one year or longer.
• C)in the long run, only one input can be fixed.
• D)in the short run, one or more inputs are fixed.

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Definitions:

Thomas Young

A British polymath known for his contributions to the fields of vision, light, solid mechanics, energy, physiology, and language.

Ganglion Cell

Ganglion cell refers to a type of neuron located in the retina that receives visual information from photoreceptors via bipolar cells and transmits it to the brain through the optic nerve.

Bipolar Cell

A type of neuron found in the retina of the eye, acting as an intermediary cell that transmits signals from the photoreceptors to the ganglion cells, which then send information to the brain.

Blind Spot

A point in the visual field that corresponds to the lack of light-detecting photoreceptor cells on the optic disc of the retina, resulting in a lack of visual perception.