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7.5.3 long-run production function

In the long run, which inputs can a firm vary?

A

No factors of production vary because inputs are fixed.

B

Only labour varies, while capital remains fixed.

C

All factors of production vary together.

D

Only capital varies, while labour remains fixed.

7.5.3 long-run production function Flashcards

  1. Intl A Level
  2. /Economics
  3. /7.5.3 long-run production function

26 flashcards on CIE Intl A Level Economics 7.5.3 long-run production function: the key terms and definitions you need to recall.