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CBSE Class 12-commerce Answered

Distinguish between a firm in the short run and long run.
Asked by Topperlearning User | 25 Apr, 2016, 02:20: PM
answered-by-expert Expert Answer

A firm cannot vary all the inputs in the long run. All the factors of production can be varied in the long run. Therefore, there is no fixed input in the long run.

Answered by | 25 Apr, 2016, 04:20: PM
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