Business, 03.03.2020 02:57 samueldfhung

The long run is best defined as a time period during which at least one input cannot be changed. during which all inputs can be varied. during which consumer demand for goods and services change. that is longer than two years. One thing that distinguishes the short run and the long run is the number of months considered. implicit costs. the existence of marginal costs. the existence of at least one fixed input.

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