Which of the Following Statements Best Represents a Difference Between

question 8

Multiple Choice

Which of the following statements best represents a difference between short-run and long-run cost?

• A)Less than one year is considered the short run; more than one year the long run.
• B)There are no fixed costs in the long run.
• C)In the short-run labor must always be considered the variable input and capital the fixed input.
• D)All of the above are true.

---

Definitions:

Brand-name Drugs

Medications marketed under a proprietary, trademark-protected name, often more expensive than generic versions.

Rolled Over

Refers to a situation where an investment or loan is extended beyond its original maturity date.

Gain Interest

The process of earning interest on capital, either through investments, savings, or lending activities.

Tax-sheltered Savings

Savings accounts or investment options that offer tax benefits, such as tax deferral or reduced tax rates on earnings.