Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Identify which statement is a characteristic of long-run for a firm. Time period with the least control over constraints Time period with at least one
Identify which statement is a characteristic of long-run for a firm.
Time period with the least control over constraints
Time period with at least one fixed element
Time period of determining quantity and cost that yields the greatest profit
Time period when constraints are most likely to be variable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started