Questions
MUF0061 Economics Unit 1 - Semester 2, 2025
Single choice
Which of the following is INCORRECT?
Options
A.a. Some resources are fixed in the short run and some resources are variable.
B.b. Fixed resources don’t exist in the long run.
C.c. Labour used in the production process is an example of variable resources.
D.d. There are only variable resources in the short run.
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Step-by-Step Analysis
In the context of short-run vs long-run production, several statements require careful evaluation.
Option a: 'Some resources are fixed in the short run and some resources are variable.' This is correct because, by definition, the short r......Login to view full explanationLog in for full answers
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