Entry and exit of firms occur in the long run, but not in the short run. Why?

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Entry and exit of firms occur in the long run, but not in the short run. Why? What is meant by the long run and the short run? Would you say that entry is more or less difficult than exit?

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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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Question Posted: Apr 23, 2024 08:40 AM

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Entry and exit of firms occur in the long run, but not in the short run. Why?

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In economics the concepts of short run and long run refer to different time horizons over which firm...View the full answer

Economics

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