A characteristic of the long run is
A)there are fixed inputs.
B)all inputs can be varied.
C)plant capacity cannot be increased or decreased.
D)there are both fixed and variable inputs

Question

Quizplus · Accepted Answer

In the long run, all inputs can be varied as there is no fixed period for production. This allows firms to adjust their input levels to produce at the most efficient scale and adapt to changing market conditions.

A Characteristic of the Long Run Is