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One Assumption That Distinguishes Short-Run Cost Analysis from Long-Run Cost

Question 80

Multiple Choice

One assumption that distinguishes short-run cost analysis from long-run cost analysis for a profit-maximising firm is that, in the short run:


A) output is not variable
B) the size of the factory is fixed
C) the number of workers used to produce the firm's product is fixed
D) there are no fixed costs

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