Examlex
Which of the following will help determine if the source has current or relevant information?
Short Run
A period in economics during which at least one input, such as plant size, is fixed and cannot be changed.
Physical Capital
Tangible assets such as buildings, machinery, and equipment used in the production of goods and services.
Variable Cost
Costs that vary directly with the level of production, such as raw materials, labor, and energy used in the manufacturing process.
Long Run
A period in economics during which all factors of production and costs are variable, allowing for the full adjustment to changes.
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