What's True About Both the Short-Run and Long-Run in Terms

question 15

Multiple Choice

What's true about both the short-run and long-run in terms of production and cost analysis?

• A) In the short-run,one or more of the resources are fixed
• B) In the long-run,all the factors are variable
• C) The time horizon determines whether or not an input variable is fixed or not
• D) The law of diminishing returns is based in part on some factors of production being fixed,as they are in the short run.
• E) All of the above

---

Definitions:

DELETE

A command used in computer programming and databases to remove data or records.

BACKSPACE

A keyboard key that deletes the character to the left of the cursor, or moves the cursor back one space when editing text.

Clipboard

A temporary storage area for data that the user wants to copy from one place to another.

Misspelled

Written or spelled in an incorrect manner.