Question

With reference to production, short run is that situation where:

• A. All the means of production can be changed.
• B. All the means of production cannot be changed.
• C. Both (a) and (b) are correct.
• D. Both (a) and (b) are incorrect.

Hint:

In the short run, some factors of production are fixed, making it impossible to adjust all inputs fully.

Answer 1

The Correct Option is B

In the short run, at least one factor of production (e.g., capital or land) is fixed, while other factors, such as labor, can vary.