The Long Run Is Characterized by

question 359

Multiple Choice

The long run is characterized by

• A)the relevance of the law of diminishing returns.
• B)at least one fixed input.
• C)insufficient time for firms to enter or leave the industry.
• D)the ability of the firm to change its plant size.

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Definitions:

Federal Wiretapping Law

Legislation that regulates the interception of oral, wire, and electronic communications without the consent of at least one party involved.

Reasonable Expectation Of Privacy

A reasonable expectation of privacy is a legal standard that determines in which situations a person can reasonably expect their communications or activities to be protected from government or unauthorized intrusion.

Social Media Site

A digital platform that enables users to create, share, or exchange information, ideas, pictures, and videos in virtual communities and networks.

Law Enforcement

Refers to government agencies and officers responsible for maintaining public order, preventing and detecting crime, and enforcing laws.