The long run is a planning period:
A)over which a firm can consider all inputs as variable.
B)that is at least 5 years in length.
C)that must be over 6 months in length.
D)that must be between 6 months and 5 years.

Question

Quizplus · Accepted Answer

The long run is a planning period over which a firm can consider all inputs as variable. There is no set length of time for the long run and it can vary depending on the industry and type of business. Therefore, option B, C, and D are incorrect.

The Long Run Is a Planning Period