Which of the Following Statements Most Accurately Makes the Distinction

question 120

Multiple Choice

Which of the following statements most accurately makes the distinction between the long run and the very- long run with respect to the long- run average cost (LRAC) curve?

• A)In the long run,the firm is moving along the existing LRAC curve,whereas in the very- long run,the LRAC curve is shifting down.
• B)In the long run,the firm is moving along the existing LRAC curve,whereas in the very- long run,the LRAC curve is shifting up.
• C)In the long run,the LRAC curve is shifting up,whereas in the very- long run the firm is moving along the existing LRAC curve.
• D)In the long run,the LRAC curve is shifting down,whereas in the very- long run the firm is moving along the existing LRAC curve.
• E)There is no distinction between the long run and the very- long run with respect to the LRAC curve.

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Definitions:

Active Transport

The movement of molecules across a cell membrane from a region of lower concentration to one of higher concentration, requiring energy.

Cell Membrane

The structure that surrounds and encloses a cell.

Lipids

A group of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins (such as vitamins A, D, E, and K), monoglycerides, diglycerides, triglycerides, phospholipids, and others.

Carbohydrates

Organic compounds occurring in foods and living tissues, including sugars, starch, and cellulose, which provide energy or contribute to structure.