In the Short Run, ________ Factors of Production Are Fixed

question 123

Multiple Choice

In the short run, ________ factors of production are fixed, while in the long run, ________ of them are.

• A) some; none
• B) all; none
• C) no; at least some
• D) all; at least some

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Definitions:

Mental Competency

The ability of an individual to understand the nature and effects of their actions, particularly relevant in legal proceedings and contracts.

Declaring Incompetent

A legal status adjudged by a court where an individual is deemed incapable of managing their own affairs due to mental disability or incapacity.

Appointing a Guardian

Appointing a guardian involves legally designating an individual to make decisions and care for another person, typically a minor or someone unable to care for themselves.

Designer Outfit

Clothing created by a fashion designer, often branded, and characterized by exclusive designs, high quality, and high price.