The short run is

Question

The short run is

BlackTom AI · Accepted Answer

The question presented is: The short run is a time period in which some inputs are fixed.

Because the provided data shows no answer options to evaluate, I cannot compare multiple statements. Instead, I will focus on explaining the given correct statement and why it accurately characterizes the short run in economics.

- Core idea: In the short run, at least one input is fixed while others can vary. This is typically thought of as capital (like the size of a factory or machinery) being fixed, whereas labor and other variable inputs can be adjusted.
- Why this matters: With fixed inputs, production decisions in the short run involve changing only variable inputs to alter output, leading to concepts such as short-run costs (fixed costs plus variable costs) and diminishing marginal returns.
- Distinguishing from the long run: In the long run, all inputs are variable; firms can adjust all factors of production and enter or exit industry markets. This contrast helps explain different cost structures and production decisions across time horizons.
- Common misconceptions addressed: Some might think the short run means all inputs can be adjusted quickly, but the defining feature is the fixity of at least one input. Others might try to apply the term only to time-based definitions; in economics, the emphasis is on the flexibility of inputs, not just the calendar duration.
- Practical example: If a factory can hire more workers for a month but cannot temporarily enlarge its machinery, the labor is variable while capital remains fixed, placing the operation in the short run.

In summary, the statement "a time period in which some inputs are fixed" correctly captures the standard economic definition of the short run, reflecting the essential distinction from the long run where all inputs are flexible. Since no other options were provided to critique, the analysis centers on the accuracy and implications of this definition.

ECON 4001.01 SP2025 (19496) Week 5 quiz

The short run is

查看解析

登录即可查看完整答案

类似问题

__________________ refers to the products, methods, inventions, and standards used for the purpose of producing information.

____________________ is data presented in a meaningful context.

_________________ framework—a model of the components of an information system: computer hardware, software, data, procedures, and people.

_______________________ is the ability to model the components of the system to connect the inputs and outputs among those components.

___________________ is the ability to make and manipulate models.

_____________ states that the value of a network is equal to the square of the number of users connected to it.

Critical data characteristics include _______, timely, relevant, just sufficient and worth its cost.

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单