The time necessary to make all adjustments to new economic circumstances is known as:
A) the long run.
B) the short run.
C) circumstantial.
D) periodical.

Name: The time necessary to make all adjustments to new economic circumstances is known as: A) the long run. B) the short run. C) circumstantial. D) periodical.
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Question

Quizplus · Accepted Answer

The long run is a period in which all factors of production and costs are variable, allowing for all adjustments to new economic circumstances to be made.

The Time Necessary to Make All Adjustments to New Economic