Author Question: The long run is distinguished from the short run because only in the long run A) output prices ... (Read 91 times)

nmorano1 · **on:** Jun 29, 2018

The long run is distinguished from the short run because only in the long run

A) output prices can vary.
B) factor of production prices can vary.
C) the quantities of all factors of production can be varied.
D) the firm no longer maximizes its profit.

Question 2

Technological efficiency necessarily means producing

A) at minimum cost.
B) with the highest level technology available.
C) without using more inputs than necessary.
D) technology itself.