What are the two-time frames economists use to analyze resources used in production? How do they differ? (short run; long run)
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economics, the short run and the long run are time horizons used to measure costs and make production decisions.
Very short run – where all factors of production are fixed. ... employ more workers, but not increase capital in the short run
In economics the long run is a theoretical concept in which all markets are in equilibrium, and all prices and quantities have fully adjusted
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