The Long Run Is Defined as the Time Period in Which

question 100

Multiple Choice

The long run is defined as the time period in which

• A) the firm can vary only one input.
• B) the firm can make positive economic profits.
• C) all factors of production can be altered.
• D) the firm can alter its rate of production.

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Definitions:

Learned Behaviors

Learned behaviors are actions or reactions that organisms acquire through experience, often involving memory and skills developed from previous activities or teachings.

Innate Behaviors

Behaviors that are genetically coded and present at birth, not learned through experience, such as reflex actions in infants.

Inherited Response

A reaction or behavior that is genetically passed down from one generation to the next, often instinctual in nature.

Sucking Response

An innate reflex in infants, triggering them to instinctively suck anything that touches the roof of their mouth.