In the Long Run Which of the Following Is True

question 46

Multiple Choice

In the long run which of the following is true?

• A)Total cost = fixed cost + variable cost.
• B)The size of a firm's physical plant can be changed but the firm cannot adopt new technology.
• C)There are no fixed costs.
• D)The firm can vary its explicit costs but not its implicit costs.

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Definitions:

Employee Career

The progression and development of an individual’s work life and professional achievements over time, often involving various roles and responsibilities.

Performance Management System

A systematic approach to improving organizational performance by developing the performance of individuals and teams.

HR Decisions

Decisions made by the human resources department or professionals concerning employee management, including hiring, training, performance evaluation, promotions, and terminations.

Job Re-design

The process of altering a job setup to improve employee satisfaction, boost performance, or adapt to changing conditions.