Profit Maximizing Under Perfect Competition & Monopoly Mcqs


Q.  The short run, as economists use the phrase, is characterized by ?

a. a period where the law of diminishing returns does not hold.
b. at least one fixed factor of production and firms neither leaving nor entering the industry
c. all inputs being variable
d. no variable inputs – that is all of the factors of production are fixed


ANSWER: See Answer
 
No explanation is available for this question!
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