The long run is a period of time: that is too short to change the size of a firm's plant. that is long enough to permit changes in all the firm's inputs, both fixed and variable. in which production occurs beyond one year. in which production occurs beyond five years.

The long run is a period of time: that is too short to change the size of a firm's plant. that is long enough to permit changes in all the firm's inputs, both fixed and variable. in which production occurs beyond one year. in which production occurs beyond five years.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 5E

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Question

The long run is a period of time:

that is too short to change the size of a firm's plant.

that is long enough to permit changes in all the firm's inputs, both fixed and variable.

in which production occurs beyond one year.

in which production occurs beyond five years.

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问题7 In production, the difference between the long run and short run is some inputs are fixed in the short run but all are variable in the long run the short run refers to a week and the long run refers to a month some inputs are fixed in the short run but all are fixed in the long run some inputs are variable in the short run but all are fixed in the long run