The long run is a

Question

The long run is a

Quizplus · Accepted Answer

The long run is defined as a period long enough for firms to be able to adjust their plant size and capacity, which typically takes more than one year. Option A is not correct, as the duration of the long run is not defined by a specific number of years. Option C is true but not comprehensive enough, as the ability to make economic decisions is not unique to the long run. Option D is also not correct, as the long run affects firms of all sizes. Option E is unrelated to the concept of the long run in economics.

The Long Run Is a