PRC-3 · Chapter 12 · Question 16 of 69
A toy factory receives a sudden, massive holiday order. They urgently hire 50 temporary assembly workers, but they cannot build a new factory building in time. Because the factory size is fixed, they are operating in the:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Short run
Explanation
In microeconomics, the short run is defined as the time period during which at least one factor of production (like the factory building) is fixed and cannot be changed.
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