The long run is
A)A period longer than one year.
B)The period required to produce a unit of the firm's output.
C)A period long enough for all inputs to be variable.

Question

Quizplus · Accepted Answer

The long run is a period long enough for all inputs to be variable. This means that a firm can adjust all its inputs - capital, labor, raw materials, etc. - in the long run to optimize production and minimize costs. The long run is not defined by a specific time frame, but rather by the amount of time it takes for a firm to adjust all its inputs. Therefore, the answer is choice C.

The Long Run Is