Which of these is NOT typical of the long run?
A) Firms may enter or leave the industry.
B) A firm may add facilities.
C) Output will vary only with changes in the labor force.
D) The size of an industry may change.
Correct Answer:
Verified
Q73: Normal profit is equal to
A) revenue minus
Q74: A local business earned total revenue of
Q75: A local business earned total revenue of
Q76: In economic terms, the short run is
A)
Q77: Which factor of production is usually assumed
Q79: In terms of the actual time period,
Q80: Which example represents the short run?
A) Walmart
Q81: In the short run
A) all costs are
Q82: A local university is considering the construction
Q83: Which event occurs in the long run?
A)
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