The short-run is a time period in which at least one input level is fixed.

Name: The short-run is a time period in which at least one input level is fixed.
Brand: Quizplus
Rating: 5.0 (25 reviews)

Question

Quizplus · Accepted Answer

In the short-run, at least one input (usually capital) is fixed while others (usually labor) can be adjusted. The short-run is defined as a period in which at least one input (usually capital) is fixed, while the level of other inputs (usually labor) can be varied. This is in contrast to the long-run, where all inputs are variable.

The Short-Run Is a Time Period in Which at Least