what is short run? explain the behaviour of total product curve in short run.
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The short run is a concept that states that, within a certain period in the future, at least one input is fixed while others are variable. ... The short run does not refer to a specific duration of time but rather is unique to the firm, industry or economic variable being studied
The shape of the total product curve is a function of teamwork, specialization, and using the variable input with the fixed inputs. ... The total product curve is a short-run curve, meaning that technology and all inputs except labor are held constant. This assumption is the familiar ceteris paribus rule.
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