The main difference between the short run and the long run is that A. the short run always refers to a time period of less than five years. B. the long run always refers to a time period of one year or longer. C. in the short run, some inputs are fixed and some are variable. D. in the long run, all inputs are fixed.
Added by Linda W.
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Step 1: The main difference between the short run and the long run is that in the short run, some inputs are fixed and some are variable, while in the long run, all inputs are variable. Show more…
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