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:

Phase Voltage

The voltage measured across a single component in a multi-phase system.

Line Voltage

The voltage measured across two phases in a polyphase system, typically higher than the voltage of any single phase.

Three-Phase Voltages

Voltages derived from a three-phase power system, characterized by three alternating currents that differ in phase by one-third of a cycle.

Out Of Phase

The condition in which two components do not reach their positive or negative peaks at the same time.