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A short-run production function assumes that
A. the level of output is fixed.
B. at least one input is a fixed input.
C. all inputs are fixed inputs.
D. all inputs can be varied.
A short-run production function assumes that
A. the level of output is fixed.
B. at least one input is a fixed input.
C. all inputs are fixed inputs.
D. all inputs can be varied.
Divya SinghLv10
17 Jan 2021
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The distinction between the short-run and the long-run for a perfectly competitive firm or a monopolist is that:
| a. in the short-run all inputs are fixed whereas in the long-run no inputs are fixed |
| b. in the short-run all inputs are variable whereas in the long-run all inputs are fixed |
| c. in the short-run at least one input is fixed whereas in the long-run all inputs are fixed |
| d. in the short-run at least one input is fixed whereas in the long-run no inputs are fixed |
