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| In ], the '''long run''' time frame assumes no fixed ]. This relates back to the ] curve, an important factor in ] models. | In ], the '''long run''' time frame assumes no fixed ]. This relates back to the ] curve, an important factor in ] models. | ||
| The concept of long run cost is used in cost-volume-profit analysis and product mix analysis. | |||
| ==See Also== | |||
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In economics, the long run time frame assumes no fixed factors of production. This relates back to the long run average cost curve, an important factor in microeconomic models.
The concept of long run cost is used in cost-volume-profit analysis and product mix analysis.