In describing a given production technology, the short run is best described as lasting:

CA Foundation · Business Economics · MTP · January 2025
In describing a given production technology, the short run is best described as lasting:
(A) A. Up to six months from now.
(B) B. Up to five years from now.
(C) C. As long as all inputs are fixed.
(D) D. As long as at least one input is fixed.

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. As long as at least one input is fixed.

Topics: Theory of Production and Cost

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