ECON 101 Lecture : Intro to the Long Run
Document Summary
In the longrun in the short run capital all inputs including capital are t are accompanied can be adjusted also variable changes in capital in technology since the capital embodies. Also in the long run new firms can old firms can. We"ll see that happens in the long run the supply side dictates exit here in the long run enter by changes new technology the market r exit is permanent a lot of what. Using the least amount amount of of output inputs ex suppose you go into roofing business labor. There of rooters r nailguns that will not method nailguns capital labor capital are. 1 house day you hire roofers several combinations. 2 note to find the technically efficient methods to the amount of. 1 of rank them according use labor here the inputs used capital method. 4 dit capital it uses more labor than. A but some capital nescient since it capital than but some labor.
