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The short-run in production is the time period when  

Economics
WAEC 2019

The short-run in production is the time period when

 

  • A. techniques of production can easily be changed
  • B. all factors of production are vaiable
  • C. at least a factor is fixed while others are variable
  • D. variable factors cannot be changed
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Correct Answer: Option C
Explanation

The short-run production phase refers to a production cycle in which at least one factor of production is fixed.

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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709