CUET Preparation Today
In the long run _____. |
At least one of the factor varied. All factors of production can be varied. Factor remains fixed. Only one factor can vary. |
All factors of production can be varied. |
The correct answer is Option (2) → All factors of production can be varied. In economics, the long run is defined as the period during which a firm can change all inputs or factors of production, including capital, labour, and land. There are no fixed factors in the long run—everything is variable. This allows firms to adjust their scale of production fully, unlike the short run, where at least one factor remains fixed. |
