Question on: JAMB Economics - 2023
Â
The short run can be defined as the period of time during which
A
All inputs are fixed
B
At least one of the firm\'s input is fixed
C
At least two inputs are fixed
D
All inputs are variable
Ask EduPadi AI for a detailed answer
Correct Option: B
The short run can be defined as the period of time during which at least one of the firm's inputs is fixed. In the short run, some inputs are fixed, while others are variable. Option B correctly captures this characteristic, as it acknowledges the presence of at least one fixed input during this time period.
Add your answer
Please share this, thanks!
No responses