The Long Run Is a Time Period That Is

question 154

Multiple Choice

The long run is a time period that is

• A) five years or longer.
• B) long enough to change the amount of labor employed.
• C) long enough to change the size of the firm's plant and all other inputs.
• D) long enough to change the amount of labor employed but not to change the size of the plant.
• E) None of the above answers describes the long run.

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Definitions:

Carbon Tetrachloride

A volatile, colorless liquid with a slightly sweet smell, historically used in fire extinguishers and as a solvent, but now known to be a harmful carcinogen.

Mechanistic Steps

The sequential individual reactions or movements of electrons that occur during the course of a complex chemical reaction.

Chloromethane

A colorless, flammable gas with a mild sweet odor, used in manufacturing and as a refrigerant; its chemical formula is CH3Cl.

Monochlorination

The chemical process of introducing one chlorine atom into a molecule, commonly used in the organic synthesis of chlorinated compounds.