"In the short run, if I can cover my variable costs, I will continue to produce, ignoring my fixed costs. If I cannot cover my variable costs, I will shut down to minimize losses." Is this statement accurate? Why or why not?"In the long run, if I can cover my variable costs, I will continue to produce. If I cannot cover my variable costs, I will shut down." Is this statement accurate? Why or why not? provide an example.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.