The length of time that represents the long run
A)is greater than one year
B)is greater than six months
C)is longer in service industries than in manufacturing
D)is the same for all industries
E)varies from industry to industry

Question

Quizplus · Accepted Answer

The length of time that represents the long run varies from industry to industry. Different industries have varying levels of complexity and require different amounts of time to adjust to changes. Therefore, the long run can be different for manufacturing, service, and other industries.

The Length of Time That Represents the Long Run