In the Long Run

question 233

Multiple Choice

In the long run

• A) the supply curve for all firms is more elastic than in the short run.
• B) more firms may enter the industry.
• C) plants may change facility capacity.
• D) the supply curve for all firms is more elastic than in the short run, more firms may enter the industry, and plants may change facility capacity.

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Definitions:

Disabilities

Physical or mental conditions that limit a person's movements, senses, or activities.

Mission Statement

A brief description of a company's fundamental purpose, outlining its objectives, goals, and approach to reach those goals.

Diversity

Exists in a group or organization when its members differ from one another along one or more important dimensions.

Workforce Diversity

The inclusion of individuals from various backgrounds and demographics in an organization, enhancing creativity, perspective, and innovation by embracing different experiences and ideas.