In the Long Run

question 51

Multiple Choice

In the long run,

• A)the firm's fixed costs are greater than its fixed costs in the short run.
• B)all of the firm's costs are explicit costs; there are no implicit costs of production.
• C)the firm is more profitable than it is in the short run.
• D)all of the firm's costs are variable costs.

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Definitions:

Desire for Success

The motivation or drive to achieve goals and excel in tasks.

Negative Relationship

A relationship in which one variable decreases as the other increases, indicating an inverse association between them.

Drive Theory

A theory suggesting that motivation is based on the goal of eliminating uncomfortable states that arise from physiological needs.

Punching the Wall

An act of physical aggression or frustration where an individual strikes a wall with their fist.