Explain Why Fixed Costs Do Not Exist in the Long

question 141

Essay

Explain why fixed costs do not exist in the long run and why they are sometimes said to be irrelevant in the short run. Is this view correct?

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Definitions:

Conflicts Associated

This refers to the disputes, disagreements, or tensions that are connected with or arise in relation to a specific issue, situation, or context.

Roles

The functions, behaviors, and responsibilities expected of individuals within specific social positions or contexts.

Worldview Differences

Variances in the fundamental cognitive orientations of individuals or groups, including their beliefs about the nature of reality, values, and ethics.

Social Worker

A professional who provides assistance and support to people in need, helping them to cope with and solve issues in their lives, such as family and personal problems, and mental health challenges.