The long run is a period of time, or a time frame, in which
A)all resources are fixed in quantity.
B)the level of output is variable.
C)the amount of all resources can be varied.
D)the capacity of the production plant is fixed.

Question

Quizplus · Accepted Answer

In the long run, all factors of production, including capital, labor, and technology, can be adjusted, allowing businesses to change the amount of all resources they use. This contrasts with the short run, where at least one factor of production is fixed.

The Long Run Is a Period of Time, or a Time