In the long run
a. all inputs are fixed.
b. all inputs are variable.
c. some inputs are fixed.
d. production levels never change.
b
Economics
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Define opportunity cost
Economics
What is the opportunity cost of 1 ton of apples for the nations of Argentina and Brazil, respectively?
A. 4 tons of oranges and 2 tons of oranges
B. 2.5 tons of oranges and .4 tons of oranges
C. .25 tons of oranges and .5 tons of oranges
D. 2 tons of oranges and 4 tons of oranges
Economics