I have been trying to google it for the last 2 hours for an explanation and I really don’t understand it. Does it have to do with certain companies seeing changes in the near or far future, depending on the industry? Anything helpful will be appreciated.
In: Economics
In the short run you can calculate some of your costs as a constant value. For example, maybe you pay an employee $15/hr. But in the long run you need to factor in the increase in wages, materials, etc.
Latest Answers