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Commerce · Q185

Economics

Graduate and Post Graduate · Commerce · question 185

Q185

The short run

A.
Is less than one year
B.
Requires that at least one input is fixed
Answer
C.
Requires that all inputs are fixed
D.
Is just long enough to permit entry and exit

Answer: Option B

Solution

Answer: Option B
Solution:
The short run Requires that at least one input is fixed. The short run is a concept that states that, within a certain period in the future, at least one input is fixed while others are variable.