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Question
In economics, _______ is a period where all factors/inputs are variable.
In economics, _______ is a period where all factors/inputs are variable.
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Solution
The correct option is C long run
In the long run all factors are variable as producers have enough time to organize all factor inputs in the appropriate proportions to achieve the minimum efficient scale.
In the long run all factors are variable as producers have enough time to organize all factor inputs in the appropriate proportions to achieve the minimum efficient scale.
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