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In the long run: a. the firm daces the same choices it faces in the short run b. a firm must earn an accounting profit
In the long run:
a. the firm daces the same choices it faces in the short run
b. a firm must earn an accounting profit to continue to exist
c. the level of every input a firm uses can be adjusted
d. a firm must earn positive economic profit to continue to exist
e. the firm chooses to minimize costs rather than maximize profits
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