An economist is studying the pricing behavior of Las Vegas all-you−can−eat buffets. He says he will limit his analysis to a time period that allows for new buffets to enter the market and for existing ones to leave it. The economist is referring to the ________ time period.

In the long run, business firms have an advantage that they can enter or exit the business as per their needs, if the expected profits are enough then firm can remain in industry or else can leave it.

In the above case, as per the study of the economist, he is evaluating time period under which the firm can leave the industry hence we can conclude that he is referring to long run.

An economist is studying the pricing behavior of Las Vegas all-you−can−eat buffets. He says he will limit his analysis to a time period that allows for new buffets to enter the market and for existing ones to leave it. The economist is referring to the​ ________ time period.

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An economist is studying the pricing behavior of Las Vegas all-you−can−eat buffets. He says he will limit his analysis to a time period that allows for new buffets to enter the market and for existing ones to leave it. The economist is referring to the ________ time period.