In the Short Run

question 56

Multiple Choice

In the short run

• A) all factors of production are fixed.
• B) all factors of production are variable.
• C) some factors of production are variable, while at least one factor of production is fixed.
• D) None of the above are correct.

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Definitions:

Dutch Colony

Territories around the world that were controlled by the Netherlands from the 16th to the 20th century, notable for their trade networks and colonial influence.

New Netherland

A 17th-century colonial province of the Dutch Republic that was located on the East Coast of North America, including parts of present-day New York, New Jersey, Delaware, and Connecticut.

Hudson River

A river in New York, known for its beauty and historical importance in commerce and art.

Franciscans

A religious order within the Catholic Church founded by St. Francis of Assisi in the 13th century, known for their commitment to poverty and living a simple lifestyle.