The long-run is a period when?

By: |Published on: Nov 7|Categories: Economics WAEC| 0 comments

A. only the variable factors can be altered
B. all factors become variable
C. the firm will cease to exist
D. only the fixed factors can be altered

Correct Answer: Option B

B. all factors become variable

Explanation

The long-run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs

Users Also Read These:

SEE ALSO  The greatest disadvantages of barter system is the need for?

Copyright warnings! Do not copy.