3. Which of the following statements best represents a difference between short-run and long-run cost?

3. Which of the following statements best represents a difference between short-run and long-run cost? (Points : 2) Less than one year is considered the short run; more than one year the long run.There are no fixed costs in the long run.In the short-run labor must always be considered the variable input and capital the fixed input.In the short run, all inputs could be variable.All of the above are true.