Which of the Following Statements Is True

question 192

Multiple Choice

Which of the following statements is true?

• A) In the short run, a firm can vary all its inputs.
• B) In the long run, a firm cannot vary any of its inputs.
• C) The downward-sloping portion of the long-run average cost curve indicates the presence of economies of scale in production.
• D) The downward-sloping portion of the long-run average cost curve indicates the presence of diseconomies of scale in production.

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