To economists, the main difference between the short-term and the long term is that: (a) In the short-term, all inputs are fixed, while in the long-term, all inputs are variable. (b) In the short-term, the firm varies all of its inputs to find the least cost combination of inputs. (c) In the short-term, at least one of the firm’s input levels is fixed. (d) In the long-term, the firm makes a constrained decision about how to use existing plant and equipment efficiently.

To economists, the main difference between the short-term and the long

1.	To economists, the main difference between the short-term and the long term is that: (a) In the short-term, all inputs are fixed, while in the long-term, all inputs are variable. (b) In the short-term, the firm varies all of its inputs to find the least cost combination of inputs. (c) In the short-term, at least one of the firm’s input levels is fixed. (d) In the long-term, the firm makes a constrained decision about how to use existing plant and equipment efficiently.
Answer» (c) In the short-term, at least one of the firm’s input levels is fixed.