Economists Distinguish Between the Short Run and the Long Run

question 131

Multiple Choice

Economists distinguish between the short run and the long run by noting that:

• A) no inputs can be varied in the long run.
• B) some inputs cannot be varied in the short run.
• C) input prices are subject to fluctuations in the short run.
• D) output prices are subject to fluctuations in the long run.

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