How Long Does It Take a Firm to Go from the Short

question 139

Multiple Choice

How long does it take a firm to go from the short run to the long run?

• A)six months
• B)one year
• C)two years
• D)It depends on the nature of the firm.

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Definitions:

Reminder

A prompt or signal designed to jog someone's memory about a task, event, or other commitment, often used in personal and professional settings to ensure timely actions.

Installment Account

A financial account that allows borrowing or the purchase of goods, with repayment made in predetermined, periodic amounts over time.

Open Charge Account

A credit account that allows the account holder to purchase goods or services on credit and pay for them at a later date.

Line of Credit

A credit facility extended by a bank or financial institution to a government, business, or individual, allowing them to borrow up to a predetermined limit.