Answer:
The difference between long run and short run is that are no fixed factors in long run but there are fixed factors in short run.
Explanation:
The cost of production of a good can be discussed on two fronts. one is the long run and the other is the short run.
In the long run cost of production, the inputs of production aren't fixed, meaning they are variable. This helps the firm to vary its inputs as well as adopt new approaches to the production of goods.
In the short run cost of production, at least one input of production is fixed while the others are variable. This measn that one or more inputs of production is not variable while the other factors are variable.
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