The long run is a period when - WAEC Economics 2016 Question
The long run is a period when
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 option: b
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
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