The Long-Run Refers To

question 57

Multiple Choice

The long-run refers to:

• A)a time period of one year or more.
• B)the time period in which all inputs are variable.
• C)the time period in which it is too costly to change the usage of at least one input.
• D)a time period when marginal returns are diminishing.

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Definitions:

Light-dependent Reactions

The phase of photosynthesis that converts solar energy into chemical energy, occurring in the thylakoid membranes of chloroplasts.

Carbon Fixation Reactions

Reduction reactions of photosynthesis in which carbon from carbon dioxide becomes incorporated into organic molecules, leading to the production of carbohydrate. See Calvin Cycle.

Reduced

A term often used in chemistry to describe the gain of electrons or decrease in oxidation state by a molecule, atom, or ion.

Oxidized

Describes a process where an atom, molecule, or ion loses electrons, often associated with a gain of oxygen or loss of hydrogen in chemical reactions.