A Firm Can Use a Given Plant More Intensively and It

question 172

Multiple Choice

A firm can use a given plant more intensively and it can change the size of a plant. When it uses a given plant more intensively, it is holding one factor __________ and therefore the time period of production is most likely the __________.

• A)fixed; short run
• B)fixed; long run
• C)more important than another; long run
• D)more important than another; short run

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Definitions:

Special Modification

Alterations or customizations made to a product or service to meet specific needs or requirements.

Commodities

Basic goods used in commerce that are interchangeable with other goods of the same type.

Purchasing Products

The act of obtaining goods or services in exchange for money, critical in consumer behavior studies.

Scope And Complexity

Refers to the extent, range, and intricacies of a project's objectives, deliverables, and requirements.