The long-run production function allows the producer to vary the levels of _____ inputs in an effort to produce a given quantity.
A) some
B) all
C) no

Question

Quizplus · Accepted Answer

In the long-run, all inputs can be varied to produce different levels of output. This includes both variable inputs (such as labor, raw materials, etc.) and fixed inputs (such as capital equipment or facilities). Therefore, option B is the correct choice. Option A is incorrect because it suggests only some inputs can be varied, which is not true for the long-run production function. Option C is incorrect because it suggests no inputs can be varied, which is not true for the long-run production function.

The Long-Run Production Function Allows the Producer to Vary the Levels