the short run is a time period in which
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The short-run is the time period in which at least one input is fixed – generally property, plant, and equipment (PP&E) PP&E is impacted by Capex,. An increase in demand can only be met by increasing the usage of variable factors of production.
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Short run – where one factor of production (e.g. capital) is fixed. This is a time period of fewer than four-six months. Very long run – Where all factors of production are variable, and additional factors outside the control of the firm can change, e.g. technology, government policy. A period of several years.
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