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In the long-run:

A. Fixed cost will be greater than variable cost

B. Variable costs will be greater than fixed costs

C. All costs are variable costs

D. All costs are fixed costs

Correct Answer : C.


In the long run a firm can change all its inputs( size of firm, labor, capital etc) so all costs are variable in long run.}

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  2. Robbins definition of economics was criticised by:
  3. In the long run:
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  10. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  11. Stable cobweb model is a:
  12. A monopolist is:
  13. We can obtain consumers demand curve from:
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  22. If the consumers expect that the price of computers will decrease in next year then:
  23. Cross-elasticity of demand or cross-price elasticity between two complements will be:
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  26. In 1932, The nature and significance of economic science was written by:
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