Multiple Choice
Which of the following statements is NOT true about the short run and the long run?
A) The short run for a firm is today while the long run is next week.
B) These terms apply to the planning decisions of firms.
C) The firm is always operating in the short run.
D) In the short run, the firm can change the amount of variable inputs.
Correct Answer:

Verified
Correct Answer:
Verified
Q297: A firm has average fixed costs of
Q298: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -According to the
Q299: The focus of firm decisions in the
Q300: "Diminishing marginal product is a basic law
Q301: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q303: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q304: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q305: When the marginal physical product is falling<br>A)
Q306: Marginal costs are defined as<br>A) the change
Q307: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the