Answer to Question #203199 in Microeconomics for Mohammad Ahmad

Question

The dean of a college faces the following costs: graders, faculty, classroom space, and chalk. Of these costs, which are likely to be variable in the long run

Answer 1

Because the long run is a period of time in which all variables are changeable, all costs are variable as well. In the long run, grading, professors, classroom space, and chalk are likely to be variable.