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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.
To the extent that statutory compliance mandates conditions that formerly were only available to workers who had union negotiating power to win such conditions at the bargaining ta
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what are the types of exchange rate
What is the use of long-run average total cost curve in the producing output? The long-run average total cost curve demonstrates the relationship in between output and average t
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