Examlex
Ovulation usually occurs
Long Run
The long run is a period in which all inputs and production technologies can be varied, with no fixed factors of production.
Long-Run
Pertains to a period in which all factors of production and costs are variable, allowing companies to adjust all inputs.
AVC
Average Variable Cost, the total variable cost divided by the number of units produced, reflecting costs that change with output.
Short-Run
A period during which at least one of a firm's inputs is fixed, limiting its ability to adjust to demand changes.
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