In the long run,_____.
A)the marginal cost of each input differs by the ratio of their prices
B)all inputs to production are fixed
C)the marginal cost of each input equals the ratio of their prices
D)all inputs to production are variable

Question

Quizplus · Accepted Answer

In the long run, all inputs to production are considered variable, meaning firms can adjust all factors of production, such as labor and capital, to achieve the desired level of output. This contrasts with the short run, where at least one input is fixed.

In the Long Run,_____