kalpanaoli122 kalpanaoli122
  • 19-07-2020
  • Chemistry
contestada

differentiate between short period and long period​

Respuesta :

imitateportsmouth imitateportsmouth
  • 24-07-2020

The question is incomplete. The complete question is as follows:

Differentiate between a short period and long period production functions.

Answer:

Difference between a short period and long period production functions is as follows:

Short period: During this period at least one of the factors of production is available in a fixed quantity. For example: Framers having fixed land for growing crops.

Long period: During this period all the factors of production are variable. So change in any variable can increase the production.

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