please help me understand my mistake O Assignment Score:O ResourcesLx Give Up?E Feedback87.8%ResumeQuestion 22 of 24O Attempt 1The long run is best defined as a time periodduring which prices of other goods change.that is longer than one year.during which all inputs can be varied.O during which at least one input cannot be changed.IncorrectOne thing that distinguishes the short run and the long run isexplicit costs.the existence of variable costs.the number of months considered.O the existence of at least one fixed input.IncorrectO O

The short-run (SR) is a time span where the prices of inputs are constant but the prices of output…

The long run is best defined as a time period )during which prices of other goods change. that is longer than one year. during which all inputs can be varied. during which at least one input cannot be changed. Incorrect One thing that distinguishes the short run and the long run is explicit costs. the existence of variable costs. ) the number of months considered. the existence of at least one fixed input. Incorrect

The long run is best defined as a time period )during which prices of other goods change. that is longer than one year. during which all inputs can be varied. during which at least one input cannot be changed. Incorrect One thing that distinguishes the short run and the long run is explicit costs. the existence of variable costs. ) the number of months considered. the existence of at least one fixed input. Incorrect

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Completed 0 out of 30 Resources Submi Question 2 of 30 The long run is best defined as a time period during which at least one input cannot be changed. that is long enough to change all factors of production. that is longer than five years. during which the prices of other goods change. One thing that distinguishes the short run from the long run is explicit costs. the number of months considered. the presence of total costs. O whether any costs are fixed. 46°F OO
Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?