The amount of calendar time associated with the long run:
A. is less than that associated with the immediate market period.
B. varies from industry to industry.
C. is the same for all firms.
D. is, by definition, any length of time greater than one year.
Answer: B
Economics
You might also like to view...
If a good has zero external costs, then
A) marginal social cost equal marginal private cost. B) marginal social cost is greater than marginal private cost. C) marginal social cost is less than marginal private cost. D) we need more information to determine the relationship between private and social costs.
Economics
The paper currency of the United States is issued by
A) state governments and the Fed. B) state governments and the U.S. Treasury. C) the U.S. Congress. D) the Fed.
Economics