In the Long Run Which of the Following Is True

question 46

Multiple Choice

In the long run which of the following is true?

• A)Total cost = fixed cost + variable cost.
• B)The size of a firm's physical plant can be changed but the firm cannot adopt new technology.
• C)There are no fixed costs.
• D)The firm can vary its explicit costs but not its implicit costs.

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Definitions:

Key Comparisons

Key comparisons refer to the process of comparing keys (unique identifiers) in data structures or algorithms, often to sort or search data.

Ordered List

A collection of items arranged in a sequential order, often used in programming to maintain sorted elements or to impose a specific order.

Binary Search

An algorithm that seeks a particular value within a sorted list by consistently halving the search space, indicating whether the sought value is to the left or right of the examined midpoint.

Key Comparisons

The process of comparing the keys in data structures or algorithms to sort or search through data.