Short-Run And Long-Run Costs - SS2 Economics Past Questions and Answers - page 1
1
In the short run, which type of costs cannot be altered?
A
Fixed costs
B
Variable costs
correct option: a
Users' Answers & Comments2
In the long run, which type of costs become variable costs?
A
Fixed costs
B
Variable costs
correct option: a
Users' Answers & Comments3
Which type of cost exists in both the short run and the long run?
A
Fixed costs
B
Variable costs
correct option: b
Users' Answers & Comments4
Which time horizon has all costs as variable costs?
A
Short run
B
Long run
correct option: b
Users' Answers & Comments5
How long is the short run?
The short run is a period in which some inputs in the production process are fixed, typically ranging from a few months to a year.
6
How long is the long run?
The long run is a period in which all inputs in the production process can be adjusted, typically ranging from several years to a decade or more.