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Which of the following is an example of a long-run production decision?
  • a)
    Hiring additional workers to increase output
  • b)
    Increasing the quantity of raw materials used
  • c)
    Changing the layout of a production facility
  • d)
    Adjusting the prices of finished goods
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which of the following is an example of a long-run production decision...
Changing the layout of a production facility is an example of a long-run production decision. In the long run, firms have the flexibility to make changes to their production processes, such as expanding or reorganizing their facilities, to improve efficiency and meet changing market conditions.
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Which of the following is an example of a long-run production decision?a)Hiring additional workers to increase outputb)Increasing the quantity of raw materials usedc)Changing the layout of a production facilityd)Adjusting the prices of finished goodsCorrect answer is option 'C'. Can you explain this answer?
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