The long run refers to the period for which:
A) a fixed input exists.
B) all inputs are variable.
C) marginal costs are decreasing.
D) diminishing returns raise marginal cost.

Name: The long run refers to the period for which: A) a fixed input exists. B) all inputs are variable. C) marginal costs are decreasing. D) diminishing returns raise marginal cost.
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Quizplus · Accepted Answer

In the long run, all inputs are variable, meaning that firms can adjust their capital and labor inputs to meet changes in demand.

The Long Run Refers to the Period for Which