The Long Run Is a Time Period in Which

question 491

Multiple Choice

The long run is a time period in which

• A) one year or less elapses.
• B) all factors of production are variable.
• C) all factors of production are fixed.
• D) there is at least one fixed factor of production and at least one variable factor of production.

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Definitions:

Growth Ring

A layer of wood produced by a tree or shrub in a growing season, visible as rings in a cross-section of the stem, used to estimate age and growth conditions.

Xylem

A type of vascular tissue in plants responsible for conducting water and minerals from the roots to the rest of the plant.

Tension-Cohesion Model

A theory explaining the movement of water through plants, where water molecules stick together (cohesion) and are pulled up the plant through tension.

Gravity

The force that attracts a body toward the center of the earth, or any other physical body having mass.