In the Long Run

question 224

Multiple Choice

In the long run

• A) all factors of production are fixed.
• B) firms can enter or leave an industry.
• C) firms will suffer losses.
• D) the firm's plant size is fixed.

---

Definitions:

Budget Constraint

The limit on the consumption bundles that a consumer can afford to purchase with a limited amount of income.

Submarine Sandwiches

A type of sandwich consisting of a long roll of bread filled with meats, cheese, vegetables, and condiments, also known as a sub, hoagie, hero, or grinder.

Pizzas

A popular dish of Italian origin consisting of a flat round base of dough baked with a topping of tomato sauce and cheese, typically with added meat, fish, or vegetables.

Black Beans

A type of legume that is widely consumed around the world, known for its nutritional value and versatility in various cuisines.