The long run is a planning period:
A) over which a firm can consider all inputs as variable.
B) of at least five years.
C) of more than six months.
D) of 6 months to 5 years.

Name: The long run is a planning period: A) over which a firm can consider all inputs as variable. B) of at least five years. C) of more than six months. D) of 6 months to 5 years.
Brand: Quizplus
Rating: 4.9 (36 reviews)

Question

Quizplus · Accepted Answer

In the long run, all inputs are variable, allowing firms to adjust all factors of production.

The Long Run Is a Planning Period