In the Long Run

question 8

Multiple Choice

In the long run

• A) all inputs are fixed.
• B) a firm is making the optimal input choice when the marginal rate of technical substitution is equal to the input price ratio.
• C) the expansion path shows how the input marginal products change as the firm's output level changes.
• D) both a and b
• E) none of the above

---

Definitions:

Emotional Response

The psychological and physiological reactions to stimuli that are perceived as emotionally relevant.

Cognitive Control

Using rational thinking to regulate one’s emotions and to control how one reacts to emotional feelings.

Frontal Lobes

The part of the brain involved in executive functions, such as decision making, problem solving, and controlling behavior.

Bodily Humor

A historical theory in medicine that believed human health and temperament depended on the balance of bodily fluids.