In the long run:
A. per-unit costs are fixed.
B. all inputs are fixed.
C. all inputs are variable.
D. some inputs are not variable.
Answer: C
You might also like to view...
Which of the following is true of the expenditure-based method of national accounting?
A) It does not track the purchase of goods and services by the government. B) It only tracks the purchase of goods and services by the government. C) It tracks the purchase of investment goods by firms and households. D) It does not track the purchase of services by households.
What is the marginal revenue product of labor (MRP)? What shape does the MRP curve have? Why?
What will be an ideal response?
When a firm is experiencing decreasing marginal costs, it could be because
a. The average costs are increasing b. The firm is going down its learning curve c. The firm's marginal productivity is increasing d. Both C and D
The marginal propensity to consume (MPC) is equal to the inverse of the marginal propensity to save (MPS)
a. True b. False Indicate whether the statement is true or false