Question

In the short run, output: Group of answer choices May be altered by varying the size of plant and equipment which now exist in the industry Can vary as the result of using a fixed amount of plant and equipment more or less intensively Can vary as the result of changing the size of existing plants and by new firms entering or leaving the industry Is absolutely fixed

Answer 1

Answer: The correct answer is "Can vary as the result of using a fixed amount of plant and equipment more or less intensively".

Explanation: In the short run, output: Can vary as the result of using a fixed amount of plant and equipment more or less intensively.

In a short-term context, production can only vary as a result of more intensive use of the plant producing more or less intensive use of the plant producing less.