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Which of the following statements best describes the short-run in economics?
  • a)
    A period of time during which all inputs can be varied.
  • b)
    A period of time during which at least one input is fixed.
  • c)
    A period of time during which all inputs are fixed.
  • d)
    A period of time during which there are no costs incurred.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following statements best describes the short-run in econ...
The short-run in economics refers to a period of time during which some inputs are fixed and cannot be varied. While certain inputs can be adjusted in the short-run, there is at least one input that remains constant. This fixed input is usually considered a fixed cost, such as capital or machinery.
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Which of the following statements best describes the short-run in economics?a)A period of time during which all inputs can be varied.b)A period of time during which at least one input is fixed.c)A period of time during which all inputs are fixed.d)A period of time during which there are no costs incurred.Correct answer is option 'B'. Can you explain this answer?
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Which of the following statements best describes the short-run in economics?a)A period of time during which all inputs can be varied.b)A period of time during which at least one input is fixed.c)A period of time during which all inputs are fixed.d)A period of time during which there are no costs incurred.Correct answer is option 'B'. Can you explain this answer? for JAMB 2025 is part of JAMB preparation. The Question and answers have been prepared according to the JAMB exam syllabus. Information about Which of the following statements best describes the short-run in economics?a)A period of time during which all inputs can be varied.b)A period of time during which at least one input is fixed.c)A period of time during which all inputs are fixed.d)A period of time during which there are no costs incurred.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for JAMB 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements best describes the short-run in economics?a)A period of time during which all inputs can be varied.b)A period of time during which at least one input is fixed.c)A period of time during which all inputs are fixed.d)A period of time during which there are no costs incurred.Correct answer is option 'B'. Can you explain this answer?.
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