In the long run
A) price and output levels are mutually dependent.
B) the level of output depends on the price level.
C) the level of output is independent of the price level.
D) the price level depends on the level of output.

Question

Quizplus · Accepted Answer

In the long run, the level of output is determined by factors such as technology, resources, and labor, and is independent of the price level, which can be affected by short-term fluctuations in demand and supply.

In the Long Run