Illustrate firm short-run curve and its long-run supply

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Q. "Under central planning, some group has to decide how to get the necessary inputs produced in the right amounts and delivered to the right places at the right time. This is a nearly impossible task without markets and profits." This quotation best identifies the:

Q. Illustrate what is the difference between the firm's short-run supply curve and its long-run supply curve? Make up an actual example to explain your answer.

Reference no: EM1357118

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