Economists define the short run as a period of time so short that?

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Economists define the short run as a period of time so short that?

Possible Answers:
-at least one resource cannot be varied.
-output cannot be varied at all.
-only one resource can be varied.
-output cannot be varied except under diminishing marginal returns.

2006-11-03 07:46:05 · 2 answers · asked by Josh D 1 in Social Science ➔ Economics

2 answers

at least one resource cannot be varied.

2006-11-03 08:32:48 · answer #1 · answered by Irish Wander 3 · 2⤊ 0⤋

output cannot be varied at all so you don't know the effect of a long term run. Will it get better? worse?

2006-11-03 17:31:36 · answer #2 · answered by zocko 5 · 0⤊ 0⤋