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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