The Long Run Is a Time Frame in Which

question 44

Multiple Choice

The long run is a time frame in which

• A) the quantities of all factors of production are fixed.
• B) all costs are sunk costs.
• C) the quantities of some factors of production are fixed and the quantities of other factors of production can be varied.
• D) the quantities of all factors of production can be varied.

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Definitions:

Statocysts

Sensory organs found in invertebrates that help to maintain equilibrium and balance.

Aquatic Amphibians

Amphibians that live in water at least during part of their life cycle, often possessing adaptations like gills for underwater respiration.

Chemoreceptors

Sensory receptors that detect chemical stimuli in the environment or the body, such as in the nose, mouth, and blood vessels.

Electroreceptors

Sensory organs in some aquatic animals that detect electric fields.