Unit 8 Discussion Instructions

In 2-3 paragraphs (see getting started module for details, including the specific sentence length requirements), respond to the following. Your initial post should be substantive.

Discuss the difference between long-run and short-run. If you were a business owner, state what your business would be and describe examples of fixed vs variable costs. How would you apply the principles in this lecture to make decisions about your business? You will need to define short-run and long-run in your own words from the knowledge gained in this lecture, explain the difference, and then determine what decisions you would have to make in time frames.