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The short run is a relatively brief period of time, such as a few months, during which big economic adjustments are impossible.

The short run in [[microeconomics]] is the period in which a firm cannot vary its plant scale or production capacity, but can adjust its output based on how intensively it uses its resources.

The short run in [[macroeconomics]] is the period during which most prices are sticky, meaning that market shortages or surpluses can occur because the economy's ability to self-correct is limited.

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Revision as of 15:05, December 20, 2006