The Short Run Implies That All Factor Inputs Are Fixed

question 45

True/False

The short run implies that all factor inputs are fixed.

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Definitions:

Inequities

Unfair, avoidable differences in treatment or opportunities across individuals or groups.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.

Equilibrium Price

The cost at which the amount of products offered matches the amount of products requested.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a certain period of time.