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Stels [109]
3 years ago
8

What are the differences between long run and short run in economics​

Law
1 answer:
Ghella [55]3 years ago
3 0

Answer:

The long run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs.

The short run firms are only able to influence prices through adjustments made to production levels.

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