Cost Of Production and Concept of Revenue — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsCost Of Production and Concept of Revenue1 Mark
Question
What do you mean by short run?
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Answer
A short term $($run$)$ is a time period in which a producer cannot change factors of production. Hence in this period all the factors of production such as plant, heavy machinery, building of a factory, etc. remain fixed.
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