In the long run, only fixed costs can change; variable costs cannot.

Name: In the long run, only fixed costs can change; variable costs cannot.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both fixed costs and variable costs can change in the long run. Fixed costs may change if a business decides to lease a smaller or larger space, or if they purchase new equipment that reduces energy costs. Variable costs may change due to changes in the price of labor or raw materials.

In the Long Run, Only Fixed Costs Can Change; Variable