According to microeconomic theory, an input factor may be: a. Fixed in the short run, but will always be variable in the long run. b. Fixed in the short run, and fixed or variable in the long run. c. Variable in the short run, but will always fixed in the long run. d. Either fixed or flexible in the short run, and either fixed or flexible in the long run.

According to microeconomic theory, an input factor may be: a. Fixed in the short run, but will always be variable in the long run. b. Fixed in the short run, and fixed or variable in the long run. c. Variable in the short run, but will always fixed in the long run. d. Either fixed or flexible in the short run, and either fixed or flexible in the long run.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 13QP

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