In economics, how long is the long run?
A) more than one year
B) 24 months or longer
C) 5 years or more
D) whatever time it takes a firm to vary all inputs

Question

Quizplus · Accepted Answer

In economics, the long run is defined as the period during which all factors of production and costs are variable, allowing a firm to adjust all inputs. This period is not fixed to a specific number of years or months but varies depending on the context and the specific adjustments a firm needs to make.

In Economics, How Long Is the Long Run