Question

In the long run ..................

• A. At least one of the factors varied.
• B. All factors of production can be varied.
• C. Factor remains fixed.
• D. Only one factor can vary.

Hint:

Remember: Short run = at least one fixed input. Long run = all inputs variable.

Answer 1

The Correct Option is B

Step 1: Differentiate between short-run and long-run economics.
- In the short run, some production factors are fixed, while others are variable.
- In the long run, all factors of production are variable; no inputs remain fixed.
Step 2: Analyze the options.
- (A) Indicates a short-run condition ("at least one factor varied"), not a long-run one.
- (B) Correctly states that in the long run, all inputs (land, labor, capital, organization) can be adjusted.
- (C) Incorrect because "factor remains fixed" is untrue for the long run.
- (D) Incorrect as "only one factor" describes the short run, not the long run.
Step 3: Finalize the conclusion.
Therefore, in the long run, all factors are variable.
Final Answer: \[\boxed{\text{All factors of production can be varied.}}\]