While a firm can plan for the long run, it must always operate in the short run.

Name: While a firm can plan for the long run, it must always operate in the short run.
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In economics, the short run is a period during which at least one factor of production is fixed, while the long run is a period when all factors can be varied. Firms operate in the short run but plan for adjustments in the long run.

While a Firm Can Plan for the Long Run, It