What are variable inputs?
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What distinguishes the short run from the long run?
A)In the short run, all inputs are variable, and in the long run, all inputs are variable.
B)In the short run, some inputs are fixed, and in the long run, some inputs are fixed.
C)In the short run, some inputs are fixed, while in the long run, all inputs are variable.
D)In the short run, all inputs are variable, while in the long run, some inputs are fixed.
Which of the following will lower the marginal cost in the short-run?
A. An increase in the per unit costs of variable inputs such as the wage rate (per unit cost of labor)
B. An increase in the ratio of the fixed inputs to the variable inputs
C. An increase in the ratio of the variable inputs to the fixed inputs
D. none of the above