WAEC Economics 2013 Objective — Question 22
Question 22 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
Advertisement
In the long run, factors of production are considered to be
- A. at maximum
- B. fixed
- C. variableCorrect
- D. increasing
Explanation
In the long run, all factors of production are variable. This is what differentiates the long run from the short run.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.