Ask Question
24 April, 10:50

Which of the following statements is false? Multiple Choice The short run refers to a period of less than one year. In the long run, all inputs can vary in quantity. Firms may continue operating at a loss in the short run. In the long run, firms would not continue operating at a loss.

+3
Answers (1)
  1. 24 April, 11:09
    0
    The short run refers to a period of less than one year.

    Explanation:

    The statements is false that the short run refers to a period of less than one year.

    The short run, long run and very long run are different time periods in economics.

    Short run - where one factor of production (e. g. capital) is fixed.

    long run - Where all factors of production are variable,

    Unlike in accounting where operating period refer to a period of one year, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following statements is false? Multiple Choice The short run refers to a period of less than one year. In the long run, all ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers