The amount of time during which at least one input cannot be adjust is the
A)length of the long-run period.
B)length of the short-run period.
C)time period when all costs are fixed.
D)end of the firm's operations.

Question

Quizplus · Accepted Answer

The length of the short-run period is the amount of time during which at least one input cannot be adjusted. In the short run, some inputs, such as capital or plant size, are fixed, while others, such as labor or materials, are variable. This means that a firm may be able to adjust variable inputs in order to respond to changes in demand or other factors, but it cannot immediately adjust fixed inputs. The length of the short-run period varies depending on the industry and the specific inputs involved.

The Amount of Time During Which at Least One Input