Identify the correct answer, the short run is a period of time wherein A. Fixed as...
Identify the correct answer, the short run is a period of time wherein A. Fixed as well as variable factors remain constant
B. Variable factors as well and fixed factors vary
C. Variable factors can be varied while fixed factors remain constant
D. Fixed factors can be varied while variable factors remain constant
Homework Answers
Answer - C. Variable factors can be varied while fixed factors must remain constant.
To said a time period is short run, the factors must be divisible into fixed and variable factors. Short run is such a short period of time in which the producer can produce more of a commodity only by increasing the variable factors keeping fixed factors constant. Therefore, in short run the producer has the freedom to vary the variable factors while the fixed factors remain constant.
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