Ray's Radios believed the synergies between radio production and battery production could be realized if he expanded. However, due to overseeing the battery expansion Ray devoted less time to the radio business leading to the radio unit costs increasing. Ray's Radios is experiencing

Which of the following statements best describes the economic short run?

A) It is a period during which at least one of the firm's inputs is fixed. B) It is a period during which fixed inputs become variable inputs because of depreciation. C) It is a period during which firms are free to vary all of their inputs. D) It is a period of one year or less.

In the short run, a firm might choose to produce rather than shut down even if its market price is less than its average total cost of production

Indicate whether the statement is true or false