Question: Help please!! (a) Why is the long run often referred to as the planning horizon, while the short run is called the operational period? What

Help please!!

(a) Why is the long run often referred to as the planning horizon, while the short run is called the operational period? What is the relationship between the two concepts? (b) Under what condition would the firm build a plant that does not minimize the cost of producing a specific level of output in the long run?

Only answer part B

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