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Unformatted text preview: (production) Fixed Input- Input that does not vary with production (is fixed or given) Short run- time period that in which the firm operates assuming some inputs are fixed Long run- Time period long enough that all inputs can be changed (all inputs are variable)...
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This note was uploaded on 03/30/2008 for the course AAEC 1006 taught by Professor Mjellerbrock during the Spring '07 term at Virginia Tech.
- Spring '07