A Characteristic of the Long Run That Is Not Available

question 299

True/False

A characteristic of the long run that is not available in the short run is that a firm is free to vary its output.

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Definitions:

Variable-Interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed.

Pop Quizzes

Surprise tests given without prior warning, typically used to assess students' understanding of recent topics or to encourage keeping up with course material.

Unpredictable Times

Unpredictable times refer to periods in which future events or outcomes are uncertain, often making planning and decision-making more difficult.

B.F. Skinner

An American psychologist best known for his work in behaviorism and the development of the theory of operant conditioning.