In the Long Run,fixed Costs Are

question 31

Multiple Choice

In the long run,fixed costs are

• A) sunk.
• B) avoidable.
• C) larger than in the short run.
• D) not included in production decisions.

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Definitions:

Cotton Kingdom

The Cotton Kingdom refers to the Southern United States in the 19th century, where cotton farming dominated the economy, heavily reliant on slave labor prior to the Civil War.

Economic Investment

The allocation of resources, usually monetary, into assets or projects expected to generate income or profit in the future.

Slave Population

The group of people who were forcibly brought to and held in servitude in various parts of the world, particularly notable in the context of American history prior to the 1865 abolition.

Legal Rights

Privileges or entitlements conferred upon individuals by law.