The long run is characterized by: A. The relevance of the law of diminishing ret

Question

The long run is characterized by: A. The relevance of the law of diminishing return B. At least one fixed input C. Insuffcient time for firms to enter or leave the industry D. The ability if the firm to change its plant size The long run is characterized by: A. The relevance of the law of diminishing return B. At least one fixed input C. Insuffcient time for firms to enter or leave the industry D. The ability if the firm to change its plant size The long run is characterized by: A. The relevance of the law of diminishing return B. At least one fixed input C. Insuffcient time for firms to enter or leave the industry D. The ability if the firm to change its plant size A. The relevance of the law of diminishing return B. At least one fixed input C. Insuffcient time for firms to enter or leave the industry D. The ability if the firm to change its plant size

Explanation / Answer

so basically long run is where all the inputs are variable and none of them is fixed, the firms can change their input combination as per their profit maximization motives,

so answer here should be D

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