Short-Run And Long-Run Costs - SS2 Economics Past Questions and Answers - page 1
1
In the short run, which type of costs cannot be altered?
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A
Fixed costs
B
Variable costs
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2
In the long run, which type of costs become variable costs?
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A
Fixed costs
B
Variable costs
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3
Which type of cost exists in both the short run and the long run?
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A
Fixed costs
B
Variable costs
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4
Which time horizon has all costs as variable costs?
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A
Short run
B
Long run
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5
How long is the short run?
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6
How long is the long run?
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