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QUESTION 6 The basic difference between the short run and the long run is that O A. all costs are fixed in the short O B. the law of diminishing returns applies in the long O C. at least one resource is fixed in the short run, while all resources are variable in the long run O D. economies of scale may be present in the short run but not in run, but all costs are variable in the long run run but not in the short run the long run

QUESTION 6 The basic difference between the short run and the long run is that O A. all costs are fixed in the short O B. the law of diminishing returns applies in the long O C. at least one resource is fixed in the short run, while all resources are variable in the long run O D. economies of scale may be present in the short run but not in run, but all costs are variable in the long run run but not in the short run the long run

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Costs And The Supply Of Goods
Section: Chapter Questions
Problem 9CQ
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QUESTION 6 The basic difference between the short run and the long run is that B. the law of diminishing returns applies in the long C. at least one resource is fixed in the short run, while all resources are variable in the long run D. economies of scale may be present in the short run but not in A. all costs are fixed in the short run, but all costs are variable in the long run run but not in the short run the long run
Transcribed Image Text:QUESTION 6 The basic difference between the short run and the long run is that B. the law of diminishing returns applies in the long C. at least one resource is fixed in the short run, while all resources are variable in the long run D. economies of scale may be present in the short run but not in A. all costs are fixed in the short run, but all costs are variable in the long run run but not in the short run the long run
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