Question

7. The _____ is a period of time long enough for firms to alter their plant capacities and for the number of firms in the industry to change. long run elasticity of time market period short run

Answer 1

The correct answer is letter "A": long run.

Step-by-step explanation:

A company sets its sustainability and strategic plans in the long run. The long-term is a long-lasting period of time, typically with a length of more than one (1) year, that firms use to set due dates of when their achievements must be fulfilled. The long-run scope is also useful ate the moment of calculating major debts such as loans with financial institutions for the acquisitions of plants, machinery or any other highly-valuable asset of the organization.