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What's True About Both the Short-Run and Long-Run in Terms

Question 15

Multiple Choice

What's true about both the short-run and long-run in terms of production and cost analysis?


A) In the short-run,one or more of the resources are fixed
B) In the long-run,all the factors are variable
C) The time horizon determines whether or not an input variable is fixed or not
D) The law of diminishing returns is based in part on some factors of production being fixed,as they are in the short run.
E) All of the above

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