Which of the Following Explanations Supports the Statement That Long-Run

question 42

Multiple Choice

Which of the following explanations supports the statement that long-run supply curves are likely to be more elastic than short-run supply curves?

• A)Firms are able to adjust fixed inputs in the long-run but not in the short-run.
• B)Firms are able to adjust variable inputs in the short-run.
• C)Firms prefer to hire workers rather than capital.
• D)Firms have more flexibility in the short-run.

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Definitions:

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