differentiate between the short-run and long-run
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Long Run. "The short run is a period of time in which the quantity of at least one input is fixed and the quantities of the other inputs can be varied. ... The long run is a period of time in which the quantities of all inputs can be varied.
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Answer:
Long Run. "The short run is a period of time in which the quantity of at least one input is fixed and the quantities of the other inputs can be varied. ... The long run is a period of time in which the quantities of all inputs can be varied.
Explanation:
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