IDNLearn.com provides a user-friendly platform for finding and sharing knowledge. Discover thorough and trustworthy answers from our community of knowledgeable professionals, tailored to meet your specific needs.
Sagot :
Answer:
Can reduce the number of workers it uses, but it cannot adjust how much capital it uses
Explanation:
The Short Run
This is simply refered to as a time frame (period of time) where at least one factor of production is fixed. The totality of Production takes place in the short run that is, it using more of the variable factors such as labour to the fixed factor such as capital, land.
The length of the short run can be known by the time it takes to increase the quantity of the fixed factor. This is said to change from industry to industry. The industries with Short Short Run includes Call centres, digging holes, internet based etc.
The Long Run
It is also known as the timeframe where all factors of production are said to be variable, but the state of technology is fixed. All planning takes place in the long run that is always in your head.
Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.