Which of the following statements is FALSE?
A)A firm plans in the long run and operates in the short run.
B)In the short run,a firm can change some but not all of its inputs.
C)In the long run all inputs are variable.
D)In the short run all inputs are fixed.

Question

Quizplus · Accepted Answer

In the short run, the firm can change some but not all of its inputs, which means that some inputs are fixed and some are variable. However, in the long run, all inputs are variable and the firm can adjust all of its inputs according to its plan. Therefore, statement D is false.

Which of the Following Statements Is FALSE