A Characteristic of the Long Run Is

question 216

Multiple Choice

A characteristic of the long run is

• A)there are fixed inputs.
• B)all inputs can be varied.
• C)plant capacity cannot be increased or decreased.
• D)there are both fixed and variable inputs

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Definitions:

Tangible Capital Assets

Physical assets owned by a firm that are used in its operations over several years, including buildings, machinery, vehicles, and equipment.

Government

The system or group of people governing an organized community, often a state, and the organization by which this group exercises authority and performs functions.

Unexpired Service Potential

the remaining usefulness or service capacity of an asset, usually in the context of public sector accounting.

CICA PSA Handbook

The Public Sector Accounting Handbook issued by the Canadian Institute of Chartered Accountants, providing guidelines for accounting practices in the public sector.