Short-Run Demand and Long-Run Demand:
Answer (1)
Student Expert
16th Oct, 2021
Hello aspirant,
The increased amount and new amount of demand is called the short-run demand. In long run, the increased demand amount is is called the long-run demand.
Short run demand and long run demand depends on span of demand obtained. Short run demand ends in shorter span than long run demand.
In short run demand customer does not have time to look for alternatives and vice-versa in terms of long term demand.
May this information was helpful to you.
Best of Luck!!
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