The short run is the time period during which
a. all of the firm's costs are fixed.
b. the value of the firm's assets starts to decay.
c. the firm can adjust all inputs freely.
d. some of the firm's input decisions are constrained by previous commitments.
D
Economics
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A(n) ________ comes to an end with a business cycle ________
A) recession; peak B) recession; trough C) expansion; trough D) expansion; bubble
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Marginal—rather than only average or per-unit--costs should guide decisions because marginal costs
What will be an ideal response?
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