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    Economics for Today Study Set 6
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    Exam 7: Production Costs
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    Distinguish the Short Run from the Long Run
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Distinguish the Short Run from the Long Run

Question 25

Question 25

Essay

Distinguish the short run from the long run. Generally, what causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?

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The short run is any amount of time in w...

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