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:

Normal Adults

Adults who exhibit typical or average psychological development and functioning according to standardized norms.

Individual Differences

Variations among individuals in their qualities, abilities, and characteristics, making each person unique.

Correctional Institutions

Facilities designed to detain individuals accused or convicted of crimes, with the goal of rehabilitation and ensuring public safety.

Adverse Effects

Unintended, harmful outcomes or reactions caused by a medication, treatment, or intervention.