Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
The short run is a period of time where at least one input is fixed while the long run is a period of time where inputs are variable.
Short-term is a concept that indicates that at least one input will be fixed and the others will vary within some future time period. Economics expresses the idea that the economy behaves differently depending on how long it needs to react to a particular stimulus. The short term does not refer to a specific time period, but rather is specific to the company, industry, or economic variable being studied.
A key principle guiding the concept of short and long term is that businesses face both variable and fixed costs in the short term. This means that output, wages, and prices are not completely free to reach new equilibria. Equilibrium refers to the point at which opposing forces are balanced.
Learn more about short - run here :https://brainly.com/question/4171648
#SPJ4
Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.
