How long does it take for a company to be in the long run?
A)It takes as long as is needed for the number of sellers in the company's market to increase or decrease.
B)It is any time period longer than one year.
C)It takes as long as is needed for the prices of inputs to vary.
D)It is any time period longer than two years.

Question

Quizplus · Accepted Answer

Being in the long run is not a specific set amount of time, but rather is dependent on changes in the market, specifically changes to the number of sellers. As firms enter or exit the market, the long-run equilibrium can shift and change the conditions that firms in the market face.

How Long Does It Take for a Company to Be