11. The long run is defined as: a. the horizon in which the manager can adjust all factors of production. b. the horizon in which there are only fixed factors of production. c. the horizon in which there are both fixed and variable factors of production. d. greater than one year.

11. The long run is defined as: a. the horizon in which the manager can adjust all factors of production. b. the horizon in which there are only fixed factors of production. c. the horizon in which there are both fixed and variable factors of production. d. greater than one year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

11. The long run is defined as:
a. the horizon in which the manager can adjust all factors of production.
b. the horizon in which there are only fixed factors of production.
c. the horizon in which there are both fixed and variable factors of production.
d. greater than one year.

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