Short run production period and long run production period, Microeconomics

Assignment Help:

Short run production period and long run production period:

The short run is a period of production during which some factors of production are fixed and some too are variable. The fixed inputs cannot be varied when demand conditions require a change in output. This period varies from firm to firm, depending on the type of production a firm undertakes and the inputs it uses whiles the long run is a period of production within which all inputs are variable. This implies that if demand conditions warrant a change in production all the inputs can be varied to achieve this.


Related Discussions:- Short run production period and long run production period

Explain about counter-cyclical policies, Q. Explain about Counter-Cyclical ...

Q. Explain about Counter-Cyclical Policies? Counter-Cyclical Policies:Governments may take many different actions to offset ongoing booms and busts of private-sector economy. T

International economics, how has the haberlers theory of opportunity cost ...

how has the haberlers theory of opportunity cost an improvement over the classical theory of trade

Consumer and producer surplus, analyse the rise and fall in the price under...

analyse the rise and fall in the price under market equillibrium situation?

Liberalisation of the economy, Liberalisation of the Economy: Removal...

Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic

Short run costs, A film studio in Hollywood produces movies according to t...

A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $

What is average revenue and average revenue curve, What is average revenue ...

What is average revenue and average revenue curve Average Revenue:   The average revenue is the total revenue separated by the level of output. It is therefore the price.

Atoms and molecules, who proposed the law of chemical combinations?

who proposed the law of chemical combinations?

Problem Solving, Regardless of the market structure, oligopolist and the mo...

Regardless of the market structure, oligopolist and the monopolist maximize their TR when MR=0. Do you agree?

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