In the Long Run, a Firm Has

question 192

Multiple Choice

In the long run, a firm has

• A) no factors of production that are fixed.
• B) no factors of production that are variable.
• C) no factors of production that are either fixed or variable.
• D) fixed factors of production but no variable resources.

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Definitions:

Control

The power to influence or direct people's behavior or the course of events.

Change Management

The process, tools, and techniques used to manage the people side of change to achieve the required business outcome; it involves managing the transition from a current state to a desired future state.

Vanilla Approach

A method or solution that is simple, basic, or unmodified; often used as a starting point before any customizations are made.

ERP Implementation

ERP Implementation involves the process of deploying enterprise resource planning software in an organization to manage and integrate the important parts of its business.