The long-run is a time period in which at least one input level is fixed.

Name: The long-run is a time period in which at least one input level is fixed.
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Question

Quizplus · Accepted Answer

In the long-run, all inputs are variable and can be adjusted to achieve optimal production levels. The short-run is the period in which at least one input level is fixed. In the long-run, all inputs are variable, so no input level is fixed.

The Long-Run Is a Time Period in Which at Least