Question: 1 5 The main difference between the short run and the long run is that 0 1 : 0 4 : 2 2 Multiple Choice

15
The main difference between the short run and the long run is that
01:04:22
Multiple Choice
the short run always refers to a time period of less than five years.
in the long run, all inputs are fixed.
the long run always refers to a time period of one year or longer.
in the short run, some inputs are fixed and some are variable.
1 5 The main difference between the short run and

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

To economists, the main difference between "the short run" and "the long run" is that: choose the correct answer: Multiple Choice in the long run, all resources are variable while in the short run,...

Q:

To economists, the main difference between "the short run" and "the long run" is that: Multiple Choice fixed costs are more important to decision making in the long run than they are in the short run...

Q:

Fixed resources will not change when a firm produces a larger or smaller output of products. Group of answer choices True False In the short-run a firm has both fixed and variable resources. Group of...

Q:

The main difference between the short run and the long run is that: Firms earn zero profits in the long run The long run always refers to a time period of one year or longer In the long run, all...

Q:

To economists the main difference between the short run and the long run is that: in the short run all costs are fixed, while in the long run only some costs are fixed. in the long run all resources...

Q:

1.The main difference between the short run and the long run is that: 2.The long run is a period of time, or a time-frame, in which: 3.Marginal product of labor refers to the: 4.According to the law...

Q:

1. Which of the following is considered production in Economics? A. Tilling of soil. B. Singing a song before friends. C. Preventing a child from falling into a manhole on the road. D. Painting a...

Q:

Lesson 3 Assignment Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The main difference between the short run and the long run is that:...

Q:

The main difference between the short run and long run production is that a. short run in one year and long run is two years b. in the long run, all inputs are fixed c. the long run always refers to...

Q:

profit maximization occurs where a. marginal cost crosses marginal revenue b. marginal cost crosses average revenue c. average variable cost crosses average revenue d. average variable cost crosses...

Q:

It is often argued that private country clubs tend to have low-quality food operations because the members do not join or frequent their clubs for the food but rather for the golf and fellowship. ( A...

Q:

McKnight manufactures coffee mugs that it sells to other companies for customizing with their own logos. McKnight prepares flexible budgets and uses a standard cost system to control manufacturing...

Q:

Question: Tax Project The following Course Outcome is assessed in this assignment: AC 2 5 6 - 4 : Prepare an Individual Tax Return. Complete Problem I: 8 - 6 4 in your text as your tax project and...

Q:

Fraud is a major concern in the business world. In a few paragraphs, discuss each corner of the fraud triangle and whether or not an individual can commit fraud if one part of the triangle is missing