Vipul: Created page with "==Definition== The '''long run''' refers to a longer period of time. Its key features are: * Firms can change their fixed costs according to long term changes in the demand..."

2011-12-04T01:17:00Z

Created page with "==Definition== The '''long run''' refers to a longer period of time. Its key features are: * Firms can change their fixed costs according to long term changes in the demand..."

New page

==Definition==

The '''long run''' refers to a longer period of time. Its key features are:

* Firms can change their [[fixed cost]]s according to long term changes in the demand curve.
* New firms can enter and exit in response to market changes.

Long run - Revision history

Vipul: Created page with "==Definition== The '''long run''' refers to a longer period of time. Its key features are: * Firms can change their fixed costs according to long term changes in the demand..."