If a Firm Is Operating in the Long Run the Firm

question 36

Multiple Choice

If a firm is operating in the long run the firm is flexible in the following:

• A)altering all inputs.
• B)building a new production facility.
• C)modifying an existing facility.
• D)all of the above

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Definitions:

Capital

Financial assets or the financial value of assets, such as cash and buildings, used by a business to produce goods or services.

Industrial Development

The process of establishing and growing industries in a region, often leading to economic growth and societal changes.

Trust Organization

An arrangement whereby assets are managed by one party for the benefit of another, often used in business to monopolize industries and markets.

Textiles

Materials or fabrics made from weaving, knitting, or felting fibers, used in the production of clothing, furniture, and other goods.