Louisiana State University, Shreveport ECON ECON 705 The difference between estimating a short-run vs. a long-run production function is that Select one: the long-run function only depends on LL; the…
the long-run function only depends on LL; the short-run function depends on both KK and LL.
the short-run function only depends on LL; the long-run function depends on both KK and LL.
the short-run function has fixed output; the long-run function has output that can change.
the short-run function only depends on KK; the long-run function depends on both KK and L
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