9.3: Introduction to Production and Costs in the Long Run
- Page ID
- 48403
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What you’ll learn to do: examine production choices in the long run
In the long run, because there are no fixed inputs, firms have more options about how to produce their products. As a result, we will see that long run costs are typically less than short run costs.
Contributors and Attributions
CC licensed content, Original
- Introduction to Production and Costs in the Long Run. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
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- bottle production. Authored by: PublicDomainPictures. Provided by: Pixabay. Located at: https://pixabay.com/en/beer-beverage-bottle-bottling-20639/. License: CC0: No Rights Reserved