Which of the Following Statements Is True

question 80

Multiple Choice

Which of the following statements is true?

• A)In the short run, there are no fixed costs, only variable costs.
• B)In the short run, there are fixed and variable costs, but in the long run there are only fixed costs.
• C)In the short run, there are fixed and variable costs, but fixed costs are the only costs a firm is concerned with.
• D)In the long run, there are no costs, fixed or variable.
• E)none of the above

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Definitions:

Lucas Reagent

A chemical reagent used to classify alcohols of low molecular weight based on their reactivity, comprising zinc chloride in concentrated hydrochloric acid.

Alcohol

Alcohol refers to a group of organic compounds characterized by the presence of one or more hydroxyl (-OH) groups attached to a carbon atom.

Rapidly

Quickly or in a short time period.

Oxidation

A chemical reaction involving the loss of electrons by a molecule, atom, or ion, often associated with gaining oxygen or losing hydrogen.