Long-Run Costs of Production Are Generally Lower Than the Short

question 101

Multiple Choice

Long-run costs of production are generally lower than the short run costs because:

• A)all inputs are fixed in the long run.
• B)firms cannot change their scale of production in the long run.
• C)there is greater flexibility in input usage in the long run.
• D)there is no scope for learning by doing in the long run.

---

Definitions:

Right to Work Laws

Legislation that prohibits compulsory union membership or the requirement to pay union dues as a condition of employment in certain areas.

Organizational Resources

Assets, capabilities, processes, information, and knowledge that an organization controls and utilizes to achieve its objectives.

Anti-Union Consultants

Anti-Union Consultants are professionals hired by companies to prevent or disrupt the formation of labor unions among employees.

Face-To-Face Interaction

Direct, in-person communication between individuals, allowing for non-verbal cues and immediate feedback.