For a Firm, We Define the Short Run as a Period

question 192

Multiple Choice

For a firm, we define the short run as a period of time during which

• A) at least one input cannot be changed.
• B) all inputs can be changed.
• C) only the plant size can be changed.
• D) all inputs cannot be changed.

---

Definitions:

Fairly Efficient

Describes a process or system that achieves its goals with a reasonable amount of resources or effort.

Pumps

Mechanical devices used to move fluids (liquids or gases) from one place to another, often by creating a vacuum or pressure difference.

Crop

A crop is a plant or plant product that can be grown and harvested extensively for profit or subsistence.

Diagram

A basic illustration that depicts the look, framework, or function of an object in a diagrammatic form.