Production and Costs: End of Chapter Problems 3. Identify which of the following statements are false. a. In the short run O at least one factor of production is fixed. output varies with the quantity of variable inputs employed. O diminishing marginal returns have not yet set in. fixed costs are constant. b. In the long run O fixed costs do not exist. O diminishing marginal returns have set in. O a firm can adjust all factors of production. a firm can achieve economies of scale. Question Source: Chiang de - Economics Principles For A Changing World Publis O Rain... ~0#