It's Easy to Determine If a Firm Is Making Long-Run

question 140

Multiple Choice

It's easy to determine if a firm is making long-run production decisions by looking at its cost structure because,in the long run,a firm does NOT have any ________ costs.

• A) opportunity
• B) sunk
• C) fixed
• D) variable
• E) marginal

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Definitions:

Openness to Experience

A personality dimension that involves the willingness to try new things, be open to new ideas, and engage in creative and imaginative pursuits.

Broad-minded

Characterized by an openness to new ideas, cultures, and perspectives, often leading to more inclusive decision-making.

Creative

Characterized by the ability to produce original and unusual ideas, or to make something new or imaginative.

Insightful

Having or showing an accurate and deep understanding of people or situations, often leading to an intuitive grasp of truths or solutions.