All of the following are long-run changes, except
A) an industry expanding as more firms enter it.
B) a firm moving into larger production facilities to expand production.
C) some firms deciding to leave an industry and the industry contracts.
D) a firm producing more output by acquiring more raw materials for its existing factory.

Question

Quizplus · Accepted Answer

A long-run change involves changes in the factors of production or technology. Expanding an industry or moving into larger production facilities are examples of such changes. However, acquiring more raw materials for an existing factory is a short-term change that does not involve any long-term changes in factors of production or technology.

All of the Following Are Long-Run Changes, Except