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    The long run is a planning period

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    The long run is a planning period
    a. all inputs are fixed
    b. inputs are neither variable nor fixed
    c. at least one input is variable and one input is fixed
    d. all inputs are variable.

    This is so confusing to me but I feel strongly that this is B

    The change in total output resulting from a 1- unit increase in the quantity of an input used, holding the quantities of all other inputs constant is
    a. average cost
    b. average product
    c. marginal cost
    d. marginal product.

    My answer is A

    In the long run
    a. all inputs are fixed
    b. inputs are neither variable nor fixed
    c. at least one input is variable and one input is fixed
    d. all inputs are variable

    my answer is B

    © BrainMass Inc. brainmass.com October 9, 2019, 8:38 pm ad1c9bdddf
    https://brainmass.com/economics/pricing-output-decisions/long-run-planning-period-157569

    Solution Preview

    The long run is a planning period
    d. all inputs are variable. ...

    Solution Summary

    The long run planning period is determined.

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