Question

The basic characteristic of the short run is that: Group of answer choices barriers to entry prevent new firms from entering the industry. the firm does not have sufficient time to change the size of its plant the firm does not have sufficient time to cut its rate of output to zero. a firm does not have sufficient time to change the amounts of any of the resources it employs.

Answer 1

Answer: the firm does not have sufficient time to change the size of its plant the firm

Explanation:

In the short run a company is unable to change the size of its plant along with other fixed costs so the production capacity is limited. This is why in the short run, there is a limit to how much supply can increase in response to an increase in demand.

In the long run however, the company would have been able to increase its plant and its production capacity by extension as it would have had enough time to do so.