The Short-Run Is

question 18

Multiple Choice

The short-run is:

• A)a time period in which all input levels are fixed.
• B)a time period in which at least one input level is fixed.
• C)three months.
• D)a time period in which no input levels are fixed.

---

Definitions:

Budgeted Unit Sales

The projected quantity of products a company expects to sell over a certain period, based on budgeting processes.

Budgeted Cost

An estimated financial amount allocated for a specific purpose, project, or time period.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, allowing for more accurate budgeting and performance evaluation.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of production volume, such as rent, salaries, and insurance premiums.