--%>

Illustrates the term shot run production function

Illustrates the term shot run production function?

E

Expert

Verified

Shot run refers to a period of time wherein the supply of exact inputs (for example: plant, machines, and building) are inelastic or fixed. Therefore, an increase in production during this period is possible only through increasing the variable input. In several Industries, short run may be a matter of few weeks or some months and in some others this may extent still up to three or more years.

   Related Questions in Managerial Economics

  • Q : Explain the follow-up pricing Explain

    Explain the follow-up pricing.

  • Q : Signaling and Screening Completing your

    Completing your degree is probably to be a significant signal which will help you secure a well-paid job along with a bright future if potential employer: (1) want to ensure that job applicants have already obtained important amounts of specific human capital. (2) use

  • Q : Define the term opportunity cost concept

    Define the term opportunity cost concept.

  • Q : Explain the target pricing briefly

    Explain the target pricing briefly.

  • Q : Aggregate Supplies of Labor Into the

    Into the short run, the labor supply in an economy based least on: (1) population size and labor force participation rate. (2) individuals’ preferences between leisure and income from work. (3) the demand for labor. (4) rates and structures of w

  • Q : Price and output decisions in

    Illustrates the price and output decisions in Monopolistic Competition?

  • Q : Explain the term relatively inelastic

    Explain the term relatively inelastic demand.

  • Q : Least wage elastic demand for labor For

    For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d.

    Q : Average wages for workers Average

    Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.

  • Q : Demand for labor in competitive firm

    Demand for labor of this purely competitive firm in given figure corresponds to: (1) line segment ab. (2) line segment bd. (3) line segment be (4) line segment df. (5) line segment dg.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1426854 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1942964
    Asked

    3,689

    Active Tutors

    1426854

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.