Categories: Economics WAEC

The short-run in production is the time period when?

A. techniques of production can easily be changed
B. all factors of production are vaiable
C. at least a factor is fixed while others are variable
D. variable factors cannot be changed

Correct Answer:

Option C = at least a factor is fixed while others are variable

Explanation

The short-run production phase refers to a production cycle in which at least one factor of production is fixed.

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