Introduction to Economics 1 Deneme Sınavı Sorusu #723343

I. The firm can only increase labor to increase production,
II. The firm can change the amount of capital it uses,
III. Capital is fixed,
IV. When more capital is used for a given amount of labor employed, output will increase.
Which of the statements above is correct regarding the long run in production?


I & II

I & IV

II & IV

I, II, III

II, III, IV 


Yanıt Açıklaması:

The second and fourth statements are true regarding the long run in production while others are true regarding the short run in production. Therefore, the correct option is C.

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