Multiple Choice
The long run refers to a time period
A) of one year or less.
B) in which all factors of production are variable.
C) in which labour is variable,but plant is fixed.
D) when there is at least one variable factor of production.
E) of at least 5 years.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q50: The MC curve shifts upward if<br>A)factor prices
Q51: Ernie's Earmuffs produces 200 earmuffs per year
Q52: Use the figure below to answer the
Q53: When the marginal product of labour is
Q54: When the demand for electricity peaks during
Q56: Economic profit equals total revenue minus<br>A)the cost
Q57: Use the table below to answer the
Q58: If the MC curve is rising then
Q59: In the long run,a firm can vary<br>A)all
Q60: Marginal cost is equal to<br>A)total cost divided