A short run production function assumes that a. The usage of at least one input is fixed b. The level of output is fixed c. All inputs are fixed d. Both a and b Which of the ff statements is true a. A firm plans in the short run and operates in the long run b. In the long run a firm can change all but one input c. In the long run all inputs are variable d. In the short run all inputs are fixed

A short run production function assumes that a. The usage of at least one input is fixed b. The level of output is fixed c. All inputs are fixed d. Both a and b Which of the ff statements is true a. A firm plans in the short run and operates in the long run b. In the long run a firm can change all but one input c. In the long run all inputs are variable d. In the short run all inputs are fixed

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 21PAE

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