The long run is a time frame in which
A) the firm can hire all the workers it wants to employ,but it does not have sufficient time to buy more equipment.
B) the firm is able to maximize revenue.
C) the firm may want to build a bigger plant,but cannot do so.
D) economic efficiency is achieved.
E) the quantities of all factors of production can be varied.
Correct Answer:
Verified
Q1: A firm's opportunity cost includes
A)the cost of
Q3: Plant refers to those factors of production
A)that
Q4: Normal profit is the _.Normal profit _
Q5: Economic depreciation is
A)the same as depreciation calculated
Q6: Which one of the following is included
Q7: Which of the following is part of
Q8: Economic profit equals total revenue minus
A)the cost
Q9: The short run is a time frame
Q10: The difference in the market value of
Q11: In general, (1)opportunity cost is greater than
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