The long run is defined as the period during which plant capacity and the number of firms in an industry cannot change.

Name: The long run is defined as the period during which plant capacity and the number of firms in an industry cannot change.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The long run is defined as the period during which all factors of production, including plant capacity and the number of firms in an industry, can be varied.

The Long Run Is Defined as the Period During Which