The Long Run Is Defined As

question 185

Multiple Choice

The long run is defined as:

• A) the horizon in which the manager can adjust all factors of production.
• B) the horizon in which there are only fixed factors of production.
• C) the horizon in which there are both fixed and variable factors of production.
• D) greater than one year.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, through which an individual makes associations between certain behaviors and their consequences.

Primary Reinforcement

A type of reinforcement that satisfies a basic biological need, such as food for hunger or water for thirst.

Bed-wetting

Involuntary urination during sleep, commonly seen in children.

Classical Conditioning

The mechanism of learning through the linkage of a natural stimulus and an environmental one.