Question

What Is a Short Run Period?

Answer 1

Short run period is a term used in economics to describe a period of production in the future in which the value of one input varies while the value of other input factors are constant.

Also read:

• The Short Run and the Long Run
• Total Product Average Product and Marginal Product
• Meaning of Demand and Factors Affecting Demand
• Law of Variable Proportion
• The Law of Diminishing Marginal Product and the Law of Variable Proportions

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