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The long-run of production is a period of time during which (all/some/no) inputs are variable and...

The long-run of production is a period of time during which (all/some/no) inputs are variable and (all/some/no) inputs are fixed.

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Answer #2

Ans: The long-run of production is a period of time during which all inputs are variable and no inputs are fixed.

Explanation:

Short-run of production is a period of time during which some factors of production or inputs are fixed along with other variable inputs. But the long-run of production is a period of time during which all inputs are variable and no inputs are fixed. In the short-run production function , the law of variable proportion operates whereas in the long-run production function , the law of returns to scale operates.

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