Distinguish the Short Run Form the Long Run

question 155

Essay

Distinguish the short run form the long run. Generally, what causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?

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Definitions:

Proximal Epiphysis

The end part of a long bone closest to the body's trunk.

Perforating Canal

Canals that run perpendicular to the Haversian canals in bone, connecting the blood and nerve supply of the periosteum to that of the Haversian canal.

Meatus

A natural passage or canal in the body, especially one that leads to the exterior, such as the auditory canal.

Central Canal

The fluid-filled space running longitudinally through the spine's center, surrounded by the spinal cord.