The long run:
A) depends on the type of firm and type of production being considered.
B) is defined as however long it would take a firm to vary all of its costs.
C) is longer in industries that take longer to make adjustments in input levels.
D) All of these are true.
Correct Answer:
Verified
Q126: A firm currently employs four workers in
Q127: The short run:
A)means the firm is fixed
Q128: Returns that occur in the long run
Q129: Returns to scale describes the long-run relationship
Q130: Economies of scale refers to returns that
Q132: Constant returns to scale refers to returns
Q133: A sandwich shop has six months left
Q134: Returns that occur in the long run
Q135: When a firm is on the portion
Q136: When a firm is on the flat
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