Business, 22.11.2019 02:31 chaparro0512

What is the difference between the short run and the long run?

(a) in the short run, a firm can vary all inputs but technology is fixed, while in the long run, a firm can adopt new technology but all inputs are fixed.
(b) in the short run, all of a firm's inputs are fixed, while in the long run, a firm is able to vary all inputs but not adopt new technology.
(c) in the short run, a firm can vary all inputs but technology is fixed, while in the long run, a firm can vary all inputs and adopt new technology.
(d) in the short run, all of a firm's inputs are fixed, while in the long run, a firm is able to vary all its inputs and adopt new technology.
(e) in the short run, at least one of a firm's inputs is fixed, while in the long run, a firm is able to vary all its inputs and adopt new technology.

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What is the difference between the short run and the long run?

(a) in the short run, a...

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