Why is it significant for managers to understand both short, Ask an Expert

Economics

problem 1:

Why is it significant for managers to understand both short run and long run supply and demand? Please give one hypothetical or real life ex that illustrates your response.

problem 2:

Under what circumstances would it be appropriate to resort to plant or company closings or layoffs? What is a good guideline to follow and describe how it may help a manager make this type of decision.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M937907

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