The basic characteristic of the short run is that
A)a firm does not have sufficient time to change the amounts of any of the resources it employs.
B)the firm does not have sufficient time to cut its rate of output to zero.
C)the firm does not have sufficient time to change the size of its plant.
D)the time frame is sufficient to allow new firms to enter the industry.

Question

Quizplus · Accepted Answer

In the short run, firms can adjust the amount of labor or materials they use but cannot change their plant size or capacity, which is a fixed input during this period.

The Basic Characteristic of the Short Run Is That