The long run A) means a long period of time, always longer ...

[tnt_battle]

The long run
 
  A) means a long period of time, always longer than a year.
  B) is a period of time in which all factors of production can be varied.
  C) is different for different firms.
  D) Both answers B and C are correct.

Question 2

At the current level of output, the marginal social benefit of pizza exceeds the marginal social cost of pizza. Compared to the allocatively efficient quantity, we are producing too ________ pizza and too ________ of other goods.
 
  A) much; little
  B) much; much
  C) little; little
  D) little; much

[Pamela.irrgang@yahoo.com]

Answer to Question 1

D

Answer to Question 2

D

[tnt_battle]

TYSM

[covalentbond]

Excellent