A Firm Has No Fixed Factors of Production in

question 207

Multiple Choice

A firm has no fixed factors of production in

• A) the short run.
• B) the long run.
• C) the short run and in the long run.
• D) neither the short run nor the long run.

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Definitions:

Cultural Differences

The variations in practices, beliefs, and norms observed among various ethnic, regional, or national groups.

Genetic Differences

Variations in the DNA sequences among individuals, which contribute to the unique physical and behavioral traits of each person.

Environmental Factors

External elements including climate, ecosystem, and all living and non-living things that affect an individual or population.

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.