In the Long Run,a Firm Has No Factors of Production

question 8

Multiple Choice

In the long run,a firm has no factors of production that are

• A)variable.
• B)marginal.
• C)significant.
• D)taxable.
• E)fixed.

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Definitions:

Postindustrial Societies

Societies characterized by an economy where the service sector produces more wealth than the manufacturing sector.

Economic Sector

A segment of the economy that encompasses businesses and organizations sharing similar activities, products, or services.

Service Sector

The segment of the economy that involves providing intangible goods or services to consumers and businesses, such as healthcare, education, and banking.