A business incurs:
A) fixed costs in the short run but not the long run.
B) variable costs in the short run but not the long run.
C) both fixed and variable costs in the short run and the long run.
D) none of the above.
Correct Answer:
Verified
Q40: If a business can change the amounts
Q41: In the short run, all factors of
Q42: To an economist, the long run refers
Q43: A firm can vary the amounts of
Q44: Fixed factors of production:
A) do not exist
Q46: The cost that does not change as
Q47: A factor of production that does not
Q48: The monthly payment that a business makes
Q49: The agreed upon monthly payment that a
Q50: In the long run, all factors of
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