Which of the Following Is Correct in Reference to the Long

question 108

Multiple Choice

Which of the following is correct in reference to the long run?

• A)All costs are explicit costs.
• B)Both fixed and variable costs exist.
• C)All inputs are variable.
• D)Only one input is variable while all others are fixed.

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Definitions:

Early Adopters

Consumers who are among the first to purchase and use new products or technologies, often helping to spread word-of-mouth information.

Late Majority

A segment of consumers in the technology adoption lifecycle that is skeptical of change and adopts new products or technologies after the majority of the market has accepted them.

Early Majority

A segment of consumers who adopt new products or innovations shortly after the early adopters, contributing significantly to market penetration and success.

Rate of Diffusion

The speed at which a new product, service, or idea spreads throughout a population or market.