Which of the Following Is True in the Long-Run

question 23

Multiple Choice

Which of the following is true in the long-run?

• A) A firm can vary all the inputs used in production.
• B) A firm can vary only one of the inputs used in production.
• C) All inputs used in production are fixed in the long-run.
• D) The level of output produced can be varied only over a limited range.
• E) The marginal cost is at a minimum.

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Definitions:

Surgically Amputated

The medical removal of a body part or tissue through surgical procedure.

Electric Razor

An electronic device used for shaving hair off the skin with minimal risk of cuts or abrasions.

Fluoride Toothpaste

Toothpaste containing fluoride, a mineral that helps prevent cavities and tooth decay by strengthening tooth enamel.

Foot Care

The practice of maintaining and improving the health of the feet through cleanliness, medical treatments, and preventive measures.