Complete the following statement : A period of time in which all factors of production and costs are variable is known as _______.

Q.1 (A) (v) Complete the following statement : A period of time in which all factors of production and costs are variable is known as _______.

A. Very short period

B. Short period

C. Long period

D. Very long period

Doubtly Asked 28 Oct 2026 Board exam · June 2026 hsc 12th Save WhatsApp Report

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Answer: C. Long period

Answer: (c) Long period

In the long period, the time is long enough for the firm to change all factors of production, including plant, machinery and the size of the firm. Hence there are no fixed factors or fixed costs; all costs are variable. In the short period some factors are fixed and in the very short period supply cannot be changed at all.

Doubtly AI · 28 Oct 2026 AI-verified · Oct 2026 Report

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Complete the following statement : A period of time in which all factors of production and costs are variable is known as _______.

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