In the Long Run,which of the Following Is True

question 41

Multiple Choice

In the long run,which of the following is true?

• A)Cost effects offset price effects.
• B)Profit effects are larger than cost effects.
• C)Cost effects are larger than profit effects.
• D)None of the choices are correct.

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Definitions:

Incorporated

A business that has been formed into a legal corporation, providing its owners with limited liability.

Limited Liability Company (LLC)

An unincorporated business that is taxed like a partnership, with the members paying personal income taxes, and has the limited liability of a corporation.

Unincorporated

Referring to entities or businesses that have not formed or been recognized as a corporation under law.

Taxed

Subjected to financial charges or levies imposed by a government on income, transactions, or property.