A firm can vary the amounts of all of its factors of production in:
A) the short run but not the long run.
B) the long run but not the short run.
C) both the short run and the long run.
D) neither the short run nor the long run.
Correct Answer:
Verified
Q38: In economics, production time frames are determined
Q39: To an economist, the short run refers
Q40: If a business can change the amounts
Q41: In the short run, all factors of
Q42: To an economist, the long run refers
Q44: Fixed factors of production:
A) do not exist
Q45: A business incurs:
A) fixed costs in the
Q46: The cost that does not change as
Q47: A factor of production that does not
Q48: The monthly payment that a business makes
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