Which of the Following Most Accurately Describes the Long-Run Period

question 136

Multiple Choice

Which of the following most accurately describes the long-run period?

• A) The long run is of sufficient length to allow a firm to transform economic losses into economic profits.
• B) In the long run, the firm is able to expand output by utilizing additional workers and raw materials, but not physical capital.
• C) The long run is a period of time in which a firm is unable to vary some of its factors of production.
• D) The long run is of sufficient length to allow a firm to alter its plant capacity and all other factors of production.

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Definitions:

Chemoheterotrophs

Organisms that obtain their energy by consuming organic molecules created by other organisms.

Vector

In biology, an organism that transmits a disease or parasite from one animal or plant to another. In mathematics and physics, it represents a quantity having both magnitude and direction.

Pilus

A thin, hair-like structure on the surface of some bacteria that is involved in adherence to surfaces or in the transfer of genetic material.

Capsule

A small container or covering, often used for medication, or the outer layer of some plant seeds or spores.