All of the following are long-run changes, except
A)an industry expanding as more firms enter it.
B)a firm moving into larger production facilities to expand production.
C)some firms deciding to leave an industry and the industry contracts.
D)a firm producing more output by acquiring more raw materials for its existing factory.

Question

Quizplus · Accepted Answer

Long-run changes typically involve adjustments in all inputs and resources, including changes in the scale of production facilities and the number of firms in an industry. Acquiring more raw materials for existing factory operations, as described in option D, is considered a short-run change because it involves increasing production without altering the firm's capacity or the industry structure fundamentally.

All of the Following Are Long-Run Changes, Except