Asked by
briana romero
on Oct 12, 2024Verified
In the long run
A) all costs become fixed.
B) all costs become variable.
C) all costs are a combination of fixed and variable.
Variable Costs
Expenses that change in proportion to the activity of a business.
Fixed Costs
Expenses that do not change with the level of output or sales in the short term.
- Contrast operational decisions in the context of short-run and long-run, particularly in relation to inputs and costs.
Verified Answer
OZ
Learning Objectives
- Contrast operational decisions in the context of short-run and long-run, particularly in relation to inputs and costs.