In the Long Run

question 212

Multiple Choice

In the long run,

• A)a firm can shut down,but it cannot exit the industry.
• B)there are no fixed factors of production.
• C)a firm can vary all inputs,but it cannot change the mix of inputs it uses.
• D)None of the choices are correct.

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Definitions:

Bubble Concept

A situation in markets where the prices of assets inflate significantly beyond their intrinsic value, often followed by a crash.

Emissions Offsets Program

A policy or program that allows companies to compensate for their carbon emissions by investing in environmental projects.

Pollutants

Substances or energies introduced into the environment that cause harm or discomfort to organisms, including humans, or damage the natural resources.

Emissions

The release of pollutants into the environment, typically referring to gases expelled by vehicles and industrial processes.