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ICE Princess25 [194]
3 years ago
5

What is the difference in the short run and the long​ run? in the short​ run,

Business
1 answer:
Valentin [98]3 years ago
4 0
<span>What is the difference in the short run and the long​ run? In the short​ run, at least one input is fixed. In the long run, </span><span>the firm is able to vary all its​ inputs, adopt new​ technology, and change the size of its physical plant.

Factors of product and costs vary in the long run and the firms will adjust to different costs. The short tun are only able to adjust to prices when they change the production levels. 
</span>
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