According to economic theory,the difference between the long run and the short run is:

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The ability for a firm to vary all resources is the main difference between the short run and the long run according to economic theory. In the short run, some resources are fixed while others are variable, whereas in the long run, all resources can be varied. This allows a firm to adjust its production to changing market conditions and improve its efficiency over time. Therefore, it is important for executive decision makers to understand this difference and plan accordingly for the long-term success of their businesses.

According to Economic Theory,the Difference Between the Long Run and the Short