What's true about both the short-run and long-run in terms of ...

[colton]

What's true about both the short-run and long-run in terms of production and cost analysis?
 a. In the short-run, one or more of the resources are fixed
  b. In the long-run, all the factors are variable
  c. The time horizon determines whether or not an input variable is fixed or not
  d. The law of diminishing returns is based in part on some factors of production being fixed, as they are in the short run.
  e. All of the above

Question 2

Annual budgeting of production goals of a division within a firm
 a. is an accounting mechanism to plan for the costs and revenues over a time period
  b. increase the burden on the division when goals rise
 c. can lead to accumulated inventory when the goals of an upstream division are arbitrarily set too high
  d. all of the above

[lorealeza]

Answer to Question 1

e

Answer to Question 2

d

[colton]

Thank you

[lorealeza]

Happy to help you