The Long Run Is a Planning Period

question 56

Multiple Choice

The long run is a planning period:

• A)over which a firm can consider all inputs as variable.
• B)of at least five years.
• C)of more than six months.
• D)of six months to five years.

---

Definitions:

Personal Construct Theory

A psychological theory developed by George Kelly in the 1950s, proposing that individuals use personal constructs to make sense of their world.

Motivational Theory

A concept that explains what motivates individuals to behave in certain ways, focusing on the drivers of human actions.

Pursuing Goals

The process of setting, striving for, and working diligently to achieve specific objectives or outcomes.

Expectancies

Beliefs or predictions about the likelihood of future events affecting behavior and decision-making.