Types of Costs in Short Run Vs. Long Run
In the short run some inputs cannot be changed (There some fixed cost). So, we can see two major types…
Long run means the period where a business firm can change its all the inputs such as labour, technology, factories and so on. So, there are no fixed cost in the long run. All the costs are variable cost
In the short run some inputs cannot be changed (There some fixed cost). So, we can see two major types…