The Long Run Is a Period of

question 62

Multiple Choice

The long run is a period of

• A) at least one year.
• B) sufficient length to allow a firm to expand output by hiring additional workers.
• C) sufficient length to allow a firm to alter its plant size and capacity and all other factors of production.
• D) sufficient length to allow a firm to transform economic losses into economic profits.

---

Definitions:

Late Adulthood

A life stage typically considered to begin around the age of 65, marked by physical, cognitive, and social changes.

Cancer

A group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body.

Rates

Measurements that denote the frequency or occurrence of an event, particularly per unit of time.

1990s

The decade spanning from January 1, 1990, to December 31, 1999, marked by significant cultural, political, and technological changes worldwide.