The long run is a period when
ECONOMICS
WAEC 2016
The long run is a period when
- A. only the variable factors can be altered
- B. all factors become variable
- C. the firm will cease to exist
- D. only the fixed factors can be altered
Correct Answer: B. all factors become variable
Explanation
The long run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs
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