In the Long Run,________

question 83

Multiple Choice

In the long run,________.

• A) all factors of production are fixed
• B) only some inputs of a firm can be changed
• C) all firms earn positive economic profits
• D) all factors of production can be changed

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Definitions:

"g" Factor

A theory suggesting that a general intelligence factor underlies all cognitive abilities, significantly influencing performance on various intellectual tasks.

Crystallized Intelligence

The capacity to apply acquired understanding and past encounters.

Fluid Intelligence

The capability to think logically and solve problems in novel situations, independent of acquired knowledge.

"g" Factor

A construct used in psychology to describe the common intelligence that underlies performance on various cognitive tasks.