The Long Run Refers to a Time Period

question 209

Multiple Choice

The long run refers to a time period

• A)during which a firm is able to purchase all of its inputs, including its plant and equipment.
• B)long enough for a firm to vary all of its inputs, to adopt new technology, and change the size of its physical plant.
• C)long enough for a firm to pay all of its creditors in full.
• D)long enough for a firm to change the use of its variable inputs.

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Definitions:

Predators

Organisms that hunt and kill other organisms for food.

Rodents

Mammals of the order Rodentia, characterized by a single pair of continuously growing incisors in each of the upper and lower jaws.

Medical Harm

Adverse effects or complications that occur as a result of medical treatment or intervention, ranging from minor to severe, and can include medication errors, surgical mistakes, and misdiagnoses.

Sleep

A natural, reversible, periodic state of rest for the mind and body, in which consciousness is altered and sensory activity is reduced.