Answer to Question #41569 in Microeconomics for ALishia

Question #41569
The defining feature of short-run is:
a) barries of entry prevent new firms from entering the industry. b)the firm does not have sufficient time to change the size of its plant. c)the firm does not have sufficient time to cut its output to zero. d)a firm does not have sufficient time to change the amounts of any of the resources it employs.
1
Expert's answer
2014-04-22T12:21:49-0400
The right answer is c) the firm does not have sufficient time to cut its output to zero,the other answers are incorrect, because they are not the characteristics of the short-run or not only of the short-run.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS