long run costs flashcards

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what is long run? That period of time in which all inputs are variable, which is sometimes called the planning horizon
what are long term costs? Long term costs are costs that accumulated by a firm when it changes its production levels over time in an effort to expected economic profits or losses
In the long run, all costs are ______ All costs are veriable costs

what is long run?

what are long term costs?

In the long run, all costs are ______

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