49. The long run is a A. O Period of three years or longer B. O Period long enough to allow firms to change plant size and capacity C. O Period long enough to allow firm to make economic decisions D. O A period which affects larger than smaller firms

49. The long run is a A. O Period of three years or longer B. O Period long enough to allow firms to change plant size and capacity C. O Period long enough to allow firm to make economic decisions D. O A period which affects larger than smaller firms

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 4SCQ: Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the...

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49. The long run is a
A. O Period of three years or longer
B. O Period long enough to allow firms
to change plant size and capacity
C. O Period long enough to allow firm to
make economic decisions
D. O A period which affects larger than
smaller firms

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