In economic analysis,the long run
A) is a period of time during which a firm may vary one or two of its inputs.
B) represents a planning horizon for a firm currently making an investment decision.
C) exists when all inputs are frozen.
D) is never realized.
E) is the time a firm needs to vary output to respond to changes in demand.

Question

Quizplus · Accepted Answer

In economic analysis, the long run represents a period during which all inputs can be varied and is often associated with the planning horizon for firms making investment decisions. It contrasts with the short run, where some inputs are fixed.

In Economic Analysis,the Long Run