The Long Run Is a Period

question 100

Multiple Choice

The long run is a period

• A)that affects larger rather than smaller firms.
• B)long enough to allow firms to change plant size and capacity.
• C)long enough to allow firms to make economic decisions.
• D)of three years or longer.
• E)long enough for firms to begin earning profits.

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Definitions:

Incorporated

A legal status indicating that a company has been officially formed into a corporation, providing its owners limited liability protections.

Purchasing Agents

Individuals within a company responsible for acquiring goods, services, or works from external sources, usually for business purposes.

Automotive Components

Components and parts that are used in the construction and maintenance of vehicles.

Aggressive Selling

A sales strategy characterized by assertive and sometimes intrusive techniques aimed at persuading customers to buy a product or service.