Explain in detail both the short-run and the long-run rules, Microeconomics

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Explain in detail both the short-run and the long-run rules

Problem: In choosing how many inputs to use, a profit-maximizing firm has short-run and long-run considerations it needs to take into account. Explain in detail both the short-run and the long-run rules that a firm will use in deciding how many inputs to use. Provide sound economic justification for each rule.

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Microeconomics: Explain in detail both the short-run and the long-run rules

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