A firm uses workers,land,and machinery in its production process.Which of the following statements is true in the long run?

Question

Quizplus · Accepted Answer

In the long run, a firm can change its output level by changing any or all of its three inputs - workers, land, and machinery. This is because in the long run, the firm has flexibility to adjust all its inputs to optimize its production process and output level. For example, it can hire additional workers or invest in new machinery to increase its output, or it can acquire more land to expand its production capacity. Therefore, option D is the correct answer.

A Firm Uses Workers,land,and Machinery in Its Production Process