In the Long Run,but Not in the Short Run

question 64

Multiple Choice

In the long run,but not in the short run,

• A)output is fixed
• B)prices can change but the level of output is fixed
• C)some resource prices are fixed
• D)prices are fixed but the output level can change
• E)both prices and output are fixed

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas.

Ratio Analysis

A tool used in financial analysis to assess a company's performance or financial condition through the relationship between two numerical values from its financial statements.

Operational Index

A statistical measure used to gauge the performance and efficiency of business operations.

Systems Perspective

An approach to analysis that considers the entire system, including all of its interacting components, to understand complex phenomena.