The _____ is a period of time long enough for firms to alter their plant capacities and for the number of firms in the industry to change.
A) long run
B) short run
C) market period
D) elasticity of supply

Question

Quizplus · Accepted Answer

The long run is a period during which all factors of production can be varied, allowing firms to change their plant capacities and for the number of firms in the industry to potentially change.

The _____ Is a Period of Time Long Enough for Firms