Question

Assume a factory that currently employs 25 workers is considering adding another 5 workers to its payroll. Economists would classify this as:A) a long run decisionB) a short run decisionC) neither a short run or long run decisionD) both a short run and long run decision

Answer 1

D: It is both a short run and long run decision.

Explanation:

Whether its a short run or long run decision, it is determined by when the benefit will accrue to the entity.

Thus employing 5 more workers in the short run is going to help the entity whiles in the long run also they are going to be a developed staff which will benefit the entity in the long run.

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