In the short run horizon of production,
In the short run horizon of production,
- A) all inputs can be varied
- B) one input is varied
- C) all inputs are fixed
- D) one input, at least, is varied
Correct Answer: D) one input, at least, is varied
Explanation
This question is asking about the short run horizon of production. The short run horizon refers to a period of time where some inputs to production cannot be changed, while others can be changed. The question is asking which inputs can be varied in the short run horizon of production.
Option A says that all inputs can be varied in the short run horizon of production. However, this is incorrect as some inputs cannot be changed in the short run.
Option B says that one input is varied in the short run horizon of production. This is partially correct, but not entirely.
Option C says that all inputs are fixed in the short run horizon of production. This is also incorrect, as some inputs can be changed in the short run.
Option D, which is the correct answer, says that at least one input is varied in the short run horizon of production. This means that while some inputs cannot be changed in the short run, at least one input can be changed.
It is important to note that in the long run, all inputs can be changed. However, in the short run, at least one input remains fixed while others can be changed.
To learn more about this, please read the relevant sections of the recommended textbooks.