In the long run
A) a firm can shut down, but it cannot exit the industry.
B) there are no fixed factors of production.
C) a firm can vary all inputs, but it cannot change the mix of inputs it uses.
D) all firms must make economic profits.

Question

Quizplus · Accepted Answer

In the long run, all factors of production are variable, meaning there are no fixed costs. Firms can adjust all inputs to their production processes, unlike in the short run where some factors are fixed.

In the Long Run