Which of the Following Best Applies to the Distinction Between

Multiple Choice

Which of the following best applies to the distinction between the "long run" and the "short run"?

A) The short run is a period of approximately 1-6 months while the long run is any time frame which is longer.
B) In the short run,only new firms may enter,while in the long-run firms may either enter or exit the market.
C) The rationing function of price is a short-run phenomenon whereas the guiding function is a long-run phenomenon.
D) All of the above statements are correct.