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Agricultural supply is fixed in the short run because only a certain number of plants are sown in the spring. One cannot produce more if the time for planting is past.
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∙ 9y ago
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What is fixed supply?
Fixed supply is the kind of supply which is not expected to run out in the near future. For example, oxygen and sunlight can be said to have fixed supply.
Is supply more elastic in the short run than in the long run?
Most of them are more elastic in the long run,because all factors of production are variable,not fixed.
A horizontal short-run aggregate supply SRAS curve implies that in the short run?
In the short run, prices are fixed and firms produces output to meet demands. So, firms take prices as given and produce output to meet desired expenditure.
Is an Attorney's retainer a fixed or variable cost?
It is fixed in the short run, and variable in the long run
Why is it that short run aggregate supply curve is normal?
Because the supply curve basically is for the short run, and not permanent for the long run. That's why it's considered normal.
Is scarcity exists in the short run because?
Scarcity exiss in short run because the world's resources are in finite supply.
Do fixed and variable costs affect short-run marginal cost?
Fixed costs do not affect short-run marginal cost because they are just that- fixed. They are not dependent on quantity when it changes and does not vary directly with the level of output. Variable costs, however, do affect short-run marginal costs.
Is the price elasticity of supply usually larger in the short run or in the long run?
long run is ever smaller than short run
Why do wages and row material affect short-run aggregate supply but not long-run aggregate supply?
wages and raw material effect short run aggregate supply because of productivity factor but money is neutral in the long run so will never effect long run
Is short run The period in which at least one input is fixed in quantity?
No, it's long run
The distinguishing feature of the short run is that?
at least one input is fixed
Which products supply could be elastic in the short run?
Handrugs
