The difference between the short run and the long run is that: O A. In the short run all inputs are variable, while in the long run all inputs are fixed O B. In the short run, a firm that hires two inputs, capital and labor, may not be able to choose the cost- minimizing combination of capital and labor for which RTS = w/v OC. In the short run one or more inputs (usually capital) is fixed, while in the long run all inputs are variable D. None of the above

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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The difference between the short run and the long run is that:
O A. In the short run all inputs are variable, while in the long run all inputs are
fixed
OB.
In the short run, a firm that hires two inputs, capital and labor, may not be
able to choose the cost- minimizing combination of capital and labor for
which RTS = w/v
O C. In the short run one or more inputs (usually capital) is fixed , while in the long
run all inputs are variable
None of the above
Transcribed Image Text:The difference between the short run and the long run is that: O A. In the short run all inputs are variable, while in the long run all inputs are fixed OB. In the short run, a firm that hires two inputs, capital and labor, may not be able to choose the cost- minimizing combination of capital and labor for which RTS = w/v O C. In the short run one or more inputs (usually capital) is fixed , while in the long run all inputs are variable None of the above
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