Question

Production period so brief that only variable inputs (usually labor) can be changed

a) Short-run production

b) Long-run production

c) Medium-run production

d) Batch production

Answer 1

Short-run production is a period in economics where only variable inputs (such as labor) can be changed to alter output, as fixed inputs (such as capital) are unable to be varied within a short period.

Step-by-step explanation:

In economics, a production period that is so brief that only variable inputs can be changed is known as short-run production. In the short run, a firm is unable to vary fixed inputs (such as capital) within a short period, leading to the need to only change variable inputs (such as labor) to change output. This is because fixed inputs require more time to adjust or acquire, while variable inputs can be easily adjusted in the short run.