Economy, asked by PratyushRaman6023, 1 year ago

How to decide short run and long run in economics examples?

Answers

Answered by divya345

0

The main difference between shirt run and long run costs is that there are no fixed factors in the long run; there are both fixed and variable factors in the short run. In the long run the general price level, contractual wages, and expectations adjust fully to the state of the economy.
hope it helps...

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