Which of the following statements are true with regard to the production?

(A) In the short run, at least one of the factors of production remains fixed.
(B) In the long run, all factors of production can be varied.
(C) A period can be defined as long run or short run simply by looking at whether all the inputs can be varied or not.
(D) In the long run, factors of production can be classified into fixed and variable

Choose the correct answer from the options given below:

(A), (B) and (C) only

The correct answer is Option (2) → (A), (B) and (C) only

(A) In the short run, at least one of the factors of production remains fixed. (True)
(B) In the long run, all factors of production can be varied. (True)
(C) A period can be defined as long run or short run simply by looking at whether all the inputs can be varied or not. (True)
(D) In the long run, factors of production can be classified into fixed and variable. (False). In the long run, no factor is fixed, so this classification does not apply.