How does the long run differ for products


Consider chip plants: potato and computer. Assume there is a large rise in the demand for computer chips and potato chips.

a. How responsive to demand is each in the market period?
b. Describe what a manufacturer of each product might do in the short run to increase production.
c. How does the long run differ for these products?

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Microeconomics: How does the long run differ for products
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