File Name: short run and long run in economics .zip
The chief difference between long- and short-run costs is there are no fixed factors in the long run. There are thus no fixed costs.
This study investigates the effect of energy utilization, greenhouses gasses emissions, and economic activities on health risks such as mortality rate and incidence of respiratory diseases in emerging Asian economies.
Short-run, long-run, very long-run
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Long run and short run
SHORT RUN AND LONG RUN EQUILIBRIUM
In the short run the levels of usage of some input are fixed and costs associated with these fixed inputs must be incurred regardless of the level of output produced. Other costs do vary with the level of output produced by the firm during that time period. The sum-total of all such costs-fixed and variable, explicit and implicit- is short-run total cost.
See cost curves. An increase in the money supply can lead to a short term increase in real output — as workers feel they have an increase in real income. However, in the long-run, the increase in the money supply causes inflation and so workers realise real wages are the same and real output remains unchanged.
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