The short run as the term is used in connection with the theory of the firm is a period of time:

Related MCQs

• The short run is a time period in which:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• According to the principle of diminishing marginal physical productivity, in the short run
• Suppose that a firm produces 200,000 units a year and sells them all for Rs.10 each. The explicit costs of production are Rs.1,500,000 and the implicit costs of production are Rs. 300,000. The firm has an accounting profit of:
• In economic theory the costs of a firm
• The average total costs of the firm as defined in standard economic theory
• Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
• Which would be an implicit cost for a firm? The cost:
• If a firm's revenues just cover all its opportunity costs, then:
• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is: