Question

Q13. The short run is a time
period in which
through which
and dynamic
and actively co
the level of an
science.
са
e dete
ted
a ) all resources are fixed
are the price o
b ) level of output is fixed
s the law of d
a commodity
c)the size of the production
plant is variable
d) sum resources are fixed
and others are variable
Full Marks: 1
ffect.
change in quan
ny factor othe​

Answer 1

some resources are fixed and other are variable

Answer 2

A time span in which some resources are constant and others are changing is referred to as the short run.

Short run:

• The short run is a concept that states that at least one input is fixed while the others are variable within a given time frame.
• It expresses the idea that an economy's behaviour varies depending on how long it has to react to specific economic inputs.
• The term "short run" does not refer to a specific time period, but rather to the firm, industry, or economic component under consideration.

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