Question

In the long run ..................

• A. At least one of the factors varied.
• B. All factors of production can be varied.
• C. Factor remains fixed.
• D. Only one factor can vary.

Hint:

Remember: Short run = at least one fixed input. Long run = all inputs variable.

Answer 1

The Correct Option is B

Step 1: Recall the distinction between short run and long run.
- In the short run, some factors are fixed and some are variable.
- In the long run, all factors of production become variable. There are no fixed inputs in the long run.
Step 2: Evaluate options.
- (A) “At least one factor varied” → short run condition, not long run.
- (B) Correct → in the long run, all inputs (land, labour, capital, organization) can be adjusted.
- (C) Incorrect → “factor remains fixed” is wrong for long run.
- (D) Incorrect → “only one factor” applies to short run, not long run.
Step 3: Conclusion.
Thus, in the long run, all factors are variable.
Final Answer: \[ \boxed{\text{All factors of production can be varied.}} \]