Which statement is correct?
1 )
In the short run all factors of production are fixed; in the long run all factors are varied.
In the short run at least one factor is fixed; in the long run all factors can be varied.
3 )
In the short run at least one factor is varied; in the long run all factors are fixed.
4 )
In the short run at least one factor is varied; in the long run at least one factor is fixed.
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