In the Long Run

question 51

Multiple Choice

In the long run,

• A)the firm's fixed costs are greater than its fixed costs in the short run.
• B)all of the firm's costs are explicit costs; there are no implicit costs of production.
• C)the firm is more profitable than it is in the short run.
• D)all of the firm's costs are variable costs.

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Definitions:

Low Active

Describes a lifestyle or individual with minimal levels of physical activity, slightly above being sedentary.

Skill-related Fitness

Components of physical fitness that contribute to the ability to perform well in sports and activities requiring specific skills, such as agility, balance, coordination, power, reaction time, and speed.

Reaction Time

The amount of time it takes for an individual to respond to a stimulus, often used to assess motor coordination and speed of cognitive processing.

Agility

The ability to move quickly and easily, often used to describe flexibility and speed in physical and mental tasks.