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“Changes in demand have different effects on profit over different time horizons (short run versus long...

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Economics

“Changes in demand have different effects on profit overdifferent time horizons (short run versus long run)”. Explain thisphenomenon using an example of a demand increase or a demanddecrease.

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3.6 Ratings (637 Votes)
1 Suppose theres an increase in demand for Cricket bats in the market and in order to produce and meet the short term demand the manufacturers will be able to induce more labour and raw materials to meet the    See Answer
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