In the Short Run

question 324

Multiple Choice

In the short run

• A) the size of the plant is fixed.
• B) all factors of production are variable.
• C) all factors of production are fixed.
• D) some firms experience increasing returns to scale.

---

Definitions:

Predestination

The doctrine that all events have been willed by God, usually with reference to the eventual fate of the individual soul.

Ethical Egoism

A moral philosophy that posits individuals should act in ways that are in their own self-interest, which can inadvertently or intentionally benefit others.

Self-Interest

Refers to actions that are primarily aimed at benefiting oneself.

Contrary

Opposite in nature, direction, or meaning; it refers to things that are diametrically opposed to each other.