Which of the following is true in the long-run?
A) A firm can vary all the inputs used in production.
B) A firm can vary only one of the inputs used in production.
C) All inputs used in production are fixed in the long-run.
D) The level of output produced can be varied only over a limited range.
E) The marginal cost is at a minimum.

Question

Quizplus · Accepted Answer

In the long-run, all inputs used in production can be varied, allowing firms to adjust their production processes to achieve optimal efficiency and output levels. This flexibility in input usage is a key characteristic of the long-run, making choice A the correct answer.

Which of the Following Is True in the Long-Run