In Economics,the Long Run Is Considered to Be

question 58

Multiple Choice

In economics,the long run is considered to be

• A)The time period when all costs are variable.
• B)The time period when all costs are explicit.
• C)One year.
• D)More than two years.

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Definitions:

Sales Mix

The combination of different products or services that a company sells, typically analyzed to understand their relative contributions to overall sales.

Operating Loss

A situation where a company's operating expenses exceed its gross profits, indicating a negative performance.

Fixed Costs

Expenses that do not change with the level of production or sales over a short period, such as rent, salaries, and insurance.

Book Value

The net value of an asset or company calculated as total assets minus intangible assets and liabilities.