The long run:
a. is a period long enough for every input except plant size to be varied.
b. is a period in which there are no fixed costs

What is the likely reason for the Industrial Revolution to have started in Britain and not somewhere else?

What will be an ideal response?

Customers are most likely buying from a natural monopoly when they purchase

A) aspirin from a generic drug company. B) a laptop computer from Sony. C) a glass of water from the local water company. D) all of the above.