In economics, the short run is defined as:
A)less than 1 year.
B)less than 6 months.
C)period in which some inputs are considered to be fixed in quantity.
D)period in which some inputs are fixed, but it cannot exceed 1 year.

Question

Quizplus · Accepted Answer

The short run is defined as a period in which some inputs are considered to be fixed in quantity, while others can be varied. This distinguishes it from the long run, in which all inputs can be varied. The length of the short run is not fixed, but it is typically shorter than the long run. Therefore, choices A and B are incorrect because they give specific time periods, which are not universally applicable. Choice D is incorrect because it limits the short run to a maximum of one year, which is not necessarily true.

In Economics, the Short Run Is Defined As