Although Capital Is a Variable Factor in the Long Run,once

question 112

Multiple Choice

Although capital is a variable factor in the long run,once chosen it becomes a fixed factor for a long time.A profit- maximizing firm must therefore select a method of production that is

• A)adaptable to wide ranges of output over time.
• B)economically efficient at current factor prices.
• C)technologically advanced beyond methods currently used.
• D)economically efficient at current factor prices and sufficiently flexible to adapt to changing factor prices over time.
• E)labour intensive,as labour is always a variable factor.

---

Definitions:

Exercise Time

The duration or period during which physical activities or workouts are performed.

Line Charts

Graphical representations where data points plotted on a chart are connected by lines, typically used to track changes over time.

Variable

Something that can differ or shift, whether it's an element, trait, or influence.

Trends

Patterns or directions in data that suggest a relationship or show a general tendency over time.