In the long runa the firm's fixed costs are greater than its fixed costs in the short run.ball of the firm's costs are explicit costs; there are no implicit costs of production.the firm is more profitable than it is in the short run.all of the firm's costs are variable costs.

In the long run firms get more power to change inputs.

Answered: In the long run

Business

Economics

In the long run

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 14SQ

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Question

In the long run
a the firm's fixed costs are greater than its fixed costs in the short run.
b
all of the firm's costs are explicit costs; there are no implicit costs of production.
the firm is more profitable than it is in the short run.
all of the firm's costs are variable costs.

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