In the Short Run

question 21

Multiple Choice

In the short run,

• A) The firm is free to change the amount of capital it uses
• B) All inputs are variable
• C) There is no variable inputs
• D) At least one input is fixed

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Definitions:

Bushels

A unit of volume that is commonly used in agriculture for measuring quantities of grain, fruit, and other dry commodities.

Consume

The use of goods and services by households or individuals, typically referring to the act of buying and using products.

Harvest

The process of gathering mature crops from the fields.

Grain

Small, hard seeds, especially the seeds of various food plants such as wheat, corn, rye, oats, and barley.