All of a Firm's Inputs Are Considered to Be Variable

question 178

True/False

All of a firm's inputs are considered to be variable in the long run.

---

Definitions:

Independent Variables

Variables in a statistical model that are presumed to influence or predict the outcome of a dependent variable.

Variances

Statistical measures reflecting the dispersion or spread of a set of data points or how far each value in the set is from the mean.

Covariance

A measure that indicates the extent to which two variables change together; if they increase or decrease similarly.

Coefficient Of Correlation

An index that measures the magnitude and direction of a straight-line association between two variables.