Chapter 11 Behind the Supply Curve: Inputs and Costs Flashcards by Julia Summitt

Q

long run

A

time period in which all inputs can be varied

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

short run

A

time period in which at least one variable is fixed

How well did you know this?

1

Not at all

2

3

4

5

Perfectly