Final answer:
The correct answer is long-term since it is the period when a company can adjust all inputs, including plant capacity. The long run allows for strategic changes in production technologies and processes, making all costs variable over this period.
Step-by-step explanation:
From an existing perspective, the long-term run is a time period during which you can adjust the quantities of all the inputs, including plant capacity. The options given are A) Short-term, B) Long-term, C) Intermediate, and D) Strategic. The correct answer is B) Long-term. The distinction between the short run and the long run is based on the firm's ability to adjust to various inputs.
In the short run, a company cannot change fixed inputs like plant capacity, but in the long run, all factors of production including facilities, machinery, and technology processes can be adjusted. This flexibility of adjusting all costs makes the long run a strategic period for a firm's operational planning.