Final answer:
Long bones contain red bone marrow, which is vital for the production of red blood cells, white blood cells, and platelets via hematopoiesis.
Step-by-step explanation:
One of the vital functions of long bones is the formation of blood cells. This process is known as hematopoiesis and occurs within the red bone marrow found in the cavities of long bones, such as the femur, tibia, ulna, and radius. The red bone marrow is responsible for producing not only red blood cells but also white blood cells and platelets.