The short run as economists use the phrase is characterised by-09027
The short run, as economists use the phrase, is characterised by:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Mid Term - Quiz No.8.
The short run, as economists use the phrase, is characterised by:
All inputs being variable.
At least one fixed factor of production and firms neither leaving nor entering the industry.
No variable inputs - that is, all of the factors of production are fixed.
A period where the law of diminishing returns does not hold.
