The long run is best defined as a time period O during which at least one input cannot be changed. O that is long enough to change all factors of production. O that is longer than five years. O during which the prices of other goods change. One thing that distinguishes the short run from the long run is O explicit costs. the number of months considered. O the presence of total costs. O whether any costs are fixed.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
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The long run is best defined as a time period
during which at least one input cannot be changed.
that is long enough to change all factors of production.
that is longer than five years.
during which the prices of other goods change.
One thing that distinguishes the short run from the long run is
explicit costs.
the number of months considered.
the presence of total costs.
O whether any costs are fixed.
46°F
OO
Transcribed Image Text:Completed 0 out of 30 Resources Submi Question 2 of 30 The long run is best defined as a time period during which at least one input cannot be changed. that is long enough to change all factors of production. that is longer than five years. during which the prices of other goods change. One thing that distinguishes the short run from the long run is explicit costs. the number of months considered. the presence of total costs. O whether any costs are fixed. 46°F OO
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