Question: Suppose a firm has 3 inputs only - workers, machines, and a place to operate. The machine can be sold instantly if needed, and the

Suppose a firm has 3 inputs only - workers,

Suppose a firm has 3 inputs only - workers, machines, and a place to operate. The machine can be sold instantly if needed, and the workers can be let go. It is also possible to hire more workers within 2 weeks and to buy new machines within one month. The firm rents its operating place and has 3 months to go on the rental contract. The long run is when? One year in the future 3 months in the future One month in the future 2 weeks in the future

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