The short-run in production is the time period when
...The short-run in production is the time period when
Techniques of production can easily be changed
All factors of production are vaiable
At least a factor is fixed while others are variable
Variable factors cannot be changed
Correct answer is C
The short-run production phase refers to a production cycle in which at least one factor of production is fixed.
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External economies occur when ...
For a firm to break even in the long run, the marginal cost curve must cut the ...
When the price of a good is above the equilibrium, there will be ...
Two basic features common to an industry are ...
Insurance companies, pension and provident funds and unit trusts are all examples of ...
An adverse environmental impact of the petroleum industry on the economy is ...
Which of the following statement is TRUE of the effect of changes in demand and supply on price? ...