To an Economist, for a Firm to Be Operating in the Long

question 32

Multiple Choice

To an economist, for a firm to be operating in the long run,

• A) all inputs are variable.
• B) some inputs are fixed
• C) only one input can be variable.
• D) no more than one input can be fixed.
• E) at least one input must be variable.

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Definitions:

Adapting Guidelines

Modifying or adjusting rules or instructions to suit a particular situation, context, or purpose.

Marketing Messages

Communications designed to inform, persuade, or remind potential customers about a product, service, or brand.

Preliminary Web Search

An initial online search conducted to gather basic information or overview about a specific topic or question.

Secondary Research

Research done previously for another purpose.