The long run is a time period in which A) one year or less ...

[Mr3Hunna]

The long run is a time period in which
 
  A) one year or less elapses.
  B) all factors of production are variable.
  C) all factors of production are fixed.
  D) there is at least one fixed factor of production and at least one variable factor of production.

Question 2

If a minimum wage is set above the equilibrium wage rate, employment
 
  A) will increase.
  B) will not change.
  C) will decrease.
  D) may increase, decrease or not change depending on how the supply of labor is affected by the minimum wage.

[juiceman1987]

Answer to Question 1

B

Answer to Question 2

C

[Mr3Hunna]

YES! Correct, THANKS for helping me on my review

[Liddy]

Thanks for the timely response, appreciate it