Question

Short run refers to the period of time when the increase in output can be brought about by increasing ______.

Options

• all factor inputs

• increasing the quantity of fixed factor

• by increasing the quantity of variable factors only

• by increasing the quantity of one variable input (labour) and keeping all other inputs constant

Answer 1

Short run refers to the period of time when the increase in output can be brought about by increasing the quantity of one variable input (labour) and keeping all other inputs constant.