(iv) Period in which all factors of production are variable.​

Answers 2

Answer:

The long run is a period of time in which all factors of production and costs are variable.

Concept:

The factors of production are land, labor, capital and entrepreneurs. These factors of production plays an important role in producing goods and services.

Given:

Period in which all factors of production are variable.

To find:

Period in which all factors of production are variable is to find out.

Solution:

The long period is a period in which all factors of production are variable. It means in long run, labor and capital are variable inputs which change the level of production into an economy.

If you know the answer add it here!

Can't find the answer?

Log in with Google

or

Forgot your password?

I don't have an account, and I want to Register

Choose a language and a region
How much to ban the user?
1 hour 1 day 100 years