In the theory of the firm the long run is:
A) one year or over
B) the period of time in which all factors can be varied
C) the period of time in which only one factor can be varied
D) the period of time in which all factors except fixed factors can be changed

Question

Quizplus · Accepted Answer

In the long run, all factors of production can be varied, allowing firms to adjust all inputs and production processes.

In the Theory of the Firm the Long Run Is