Asked by Elizabeth Doqaj on May 06, 2024

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The long run is the period during which fixed costs do not change.

Long Run

Refers to a period during which all factors of production and costs are variable, allowing full adjustment to production decisions.

Fixed Costs

Expenses that remain constant regardless of the amount of goods or services produced, like lease payments or wages.

  • Examine the variances in input flexibility between the short and long run.
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MN
Mahum NaseemMay 08, 2024
Final Answer :
False
Explanation :
In the long run, all costs are variable, meaning that fixed costs can change as firms adjust their production capacities.