The short run is the time period necessary so that profits can be earned from production. over which an investment decision can be made. in which some costs are fixed. in which only the amount of capital may be altered.
Added by Jaime J.
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Step 1: The short run is a period of time in which at least one input is fixed. Show more…
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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.
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