What are long run and short run, Macroeconomics

Assignment Help:

What are long run and short run?

Long run:

It is the time period wherein all inputs cannot be fixed.

Short run:

It is the time period within which at least one input is not varied.

The total product curve demonstrates how the quantity of output depends onto the quantity of the variable input, for a specified quantity of the fixed input.


Related Discussions:- What are long run and short run

Scarcity and choice, how to solve problem of scarcity and choice

how to solve problem of scarcity and choice

Neo-classical thinking on growth, Neo-classical thinking on growth: Neo...

Neo-classical thinking on growth: Neo-classical  thinking  on  growth  is  owed  to  the Robert  Solow  whose  exogenous  growth models in the of the mid-20th century remained

Personal income tax is progressive, Because the structure of the personal i...

Because the structure of the personal income tax is progressive, a larger share of income is taxed at higher rates as real income increases. Therefore, economic growth automaticall

BUS668, Prepare calculations and a one to two page analysis, following the ...

Prepare calculations and a one to two page analysis, following the APA guidelines, that addresses the following: Assuming that the expectations theory is the correct theory of the

Economic concepts models- demand/supply concepts, Questions: ...

Questions: Search through newspapers for ONE article that is relevant to the economics concepts. You are also required to attach the article to your final report

Define the consumer prices index, Define the Consumer Prices Index Ever...

Define the Consumer Prices Index Every month, the Office for National Statistics (ONS) collects information on about 120,000 prices for a 'shopping basket' of about 650 goods a

AD/AS Curve, Consider the following model of an economy that begins in a ma...

Consider the following model of an economy that begins in a macro equilibrium,

Trade barries , #discuss the arguments for and against the use of trade bar...

#discuss the arguments for and against the use of trade barries in anay counrty

Strategy for p1 in this game, P2 and P3 play with a penny. P1 picks between...

P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd