In the long run,
A)the firm's fixed costs are greater than its fixed costs in the short run.
B)all of the firm's costs are explicit costs; there are no implicit costs of production.
C)the firm is more profitable than it is in the short run.
D)all of the firm's costs are variable costs.

Question

Quizplus · Accepted Answer

In the long run, all costs are variable because firms can adjust all inputs, including those that are fixed in the short run, such as capital and plant size.

In the Long Run