The long run is a time frame in which
A) the quantities of some factors of production are fixed and the quantities of other factors of production can be varied.
B) the quantities of all factors of production can be varied.
C) the quantities of all factors of production are fixed.
D) all costs are sunk costs.
Correct Answer:
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Q4: An example of a short-run fixed factor
Q5: All the decisions made by people who
Q6: In the short run
A) all factors of
Q7: The short run is a time frame
Q8: The short run is a time frame
Q10: The short run is a time period
Q11: An example of a variable factor of
Q12: The long run
A) means a long period
Q13: After constructing a new factory, the cost
Q14: A period of time in which the
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