1
answer
0
watching
162
views
11 Dec 2019
Theoretically in a long run cost function:
A. All inputs are fixed
B. All inputs are considered variable
C. Some inputs are always fixed
D. Capital and labor are always combined in fixed proportions
Theoretically in a long run cost function:
A. All inputs are fixed
B. All inputs are considered variable
C. Some inputs are always fixed
D. Capital and labor are always combined in fixed proportions
Joshua StredderLv10
10 Oct 2020
Related textbook solutions
Related questions
The distinction between the short-run and the long-run for a perfectly competitive firm or a monopolist is that:
| a. in the short-run all inputs are fixed whereas in the long-run no inputs are fixed |
| b. in the short-run all inputs are variable whereas in the long-run all inputs are fixed |
| c. in the short-run at least one input is fixed whereas in the long-run all inputs are fixed |
| d. in the short-run at least one input is fixed whereas in the long-run no inputs are fixed |
