“Long run” and “short run” can also predict future operations of the company, especially in times of loss. Various economic concepts like supply, demand, input, costs, and other variables are set into either a short run or a long run to predict or examine changes from one timeframe to another or from one variable to another. In economics, a short run and a long run are used as reference time approaches. On the other hand, a long run can also span over the same period of time depending on the company and the set parameters. A short run can be any period of time ranging from a couple of weeks to months or even a year. The meanings of both “short run” and “long run” are relative. The most prominent application of these two terms is in the study of economics. “Short run” and “long run” are two types of time-based parameters or conceptual time periods that used in many disciplines and applications.
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