In the Long Run,_____

question 45

Multiple Choice

In the long run,_____.

• A)the marginal cost of each input differs by the ratio of their prices
• B)all inputs to production are fixed
• C)the marginal cost of each input equals the ratio of their prices
• D)all inputs to production are variable

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Definitions:

High School Degree

A certificate or diploma awarded upon successfully completing the required course of studies in a secondary school or high school.

College Degree

A degree conferred by higher education institutions to students who have shown proficiency in a particular area of study or professional field after finishing a prescribed program.

Deindustrialization

A social and economic change resulting from the reduction of industrial activity, especially manufacturing.

Social Change

Alterations in the social structure and cultural values of a society over time.