In the long run:

A. all factors of production are fixed.
B. all factors of production are variable.
C. some factors of production are variable, while at least one factor of production is fixed.
D. None of these are correct.


Answer: B

Economics

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Refer to Table 2-12. Guatemala has a comparative advantage in the production of

A) sailboats. B) canoes. C) both products. D) neither product.

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The role of the costs of capital is influenced by the degree to which firms can substitute capital for other inputs of production known as relative prices

Indicate whether the statement is true or false

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