In the long run:
A) the firm has time to change the level of all inputs.
B) inputs are neither variable nor fixed.
C) at least one input is free.
D) all inputs are more expensive.
Correct Answer:
Verified
Q48: Use the following to answer questions:
Figure: Change
Q49: The long run is:
A) long enough to
Q50: Use the following to answer question:
Figure: The
Q51: Diminishing marginal returns means that:
A) each additional
Q52: Use the following to answer questions:
Q54: Think about running a restaurant. Probably:
A) cooks
Q55: Use the following to answer questions:
Q56: A farm can produce 1,000 bushels of
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Q58: Use the following to answer questions:
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