The long run is a time period in which
A) one year or less elapses.
B) all factors of production are variable.
C) all factors of production are fixed.
D) there is at least one fixed factor of production and at least one variable factor of production.

Question

Quizplus · Accepted Answer

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

The Long Run Is a Time Period in Which