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:

Exhaustion Phase

The final stage of the general adaptation syndrome, characterized by the body's inability to continue adaptation to stress, leading to potential burnout or health issues.

Alarm Phase

The initial reaction of the body to stress, activating the sympathetic nervous system and the release of stress hormones.

North American Men

Refers to adult males living in or originating from North America, encompassing a wide range of cultural, ethnic, and social backgrounds.

Emotion

A complex psychological state that involves a subjective experience, physiological response, and behavioral or expressive response.