the demand for commodity x cab be described as completely price inelastic if :
APC is equal to MPC
It is made in the short run
In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production, as to changing the output level by changing the capital stock or by entering or leaving an industry. The long run contrasts with the short run, in which some factors are variable and others are fixed, constraining entry or exit from an industry. In macroeconomics, the long run is the period when the general price level, contractual wage rates, and expectations adjust fully to the state of the economy, in contrast to the short run when these variables may not fully adjust
short run consumption function
what is short-run cost function
APC is equal to MPC
In economics, short-run cost means that some factors are variable while others are fixed restricting entry or exit from the industry. The usage of long-run and short-run in macroeconomics differs from the macroeconomic usage.
It is made in the short run
In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production, as to changing the output level by changing the capital stock or by entering or leaving an industry. The long run contrasts with the short run, in which some factors are variable and others are fixed, constraining entry or exit from an industry. In macroeconomics, the long run is the period when the general price level, contractual wage rates, and expectations adjust fully to the state of the economy, in contrast to the short run when these variables may not fully adjust
short run consumption function
what is short-run cost function
Yes. nike shoes run short i had 2 get a half size down because they run short
Monetary policy is not neutral in the short-run but neutral in the long-run. Besides, fiscal policy is not neutral in both short-run and long-run.
A short, fast run is called a sprint.
There are sunk cost in the short run but not in long run.
Well in the short run, it is sunlight. In the long run, it is clean energy.:)
Well in the short run, it is sunlight. In the long run, it is clean energy.:)