The long run is a period of time in which: options: 1) the firm will not...
The long run is a period of time in which: options: 1) the firm will not be able to make a profit. 2) at least one input is fixed. 3) the firm is guaranteed to be able to make a profit. 4) a firm can adjust the quantity of any input.
Homework Answers
The long run is the period of time in which a firm can adjust the quantity of any input. In the long run, none of the factors of productions or inputs are fixed and can be changed according to the producer. So, option 4 is the correct answer.
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