![22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/b702d975e70a4c11a2901f473affd106.jpg)
22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics
Enotes World - SHORT-RUN VS LONG-RUN ----------------------------------- Short-run is the time where one factor of production (e.g. capital) is fixed. This is a time period of fewer than four-six months. Only increasing
![LONG RUN A period of time over which the number of firms in an industry can change their production facilities. In the long run, firms can enter or leave. - ppt video LONG RUN A period of time over which the number of firms in an industry can change their production facilities. In the long run, firms can enter or leave. - ppt video](https://slideplayer.com/slide/2344805/8/images/5/Drawing+the+long-run+supply+curve.jpg)