In the economics for a company what is the difference between short run and long run In the long run all factors of production can be changed, in the short run some factors of production are fixed In the short run all factors of production can be changed, in the long run some factors of production are fixed In the short run profits are less In the long run profits are less

In economics, factors of production can be of two types which are fixed and variable. In the short run or short time, the company is not able to change some of its factor of production according to its needs and production such as land, factory, and machines, so these factors of productions are fixed and the factors such as labor are variable as they can easily change with need and the level of production. But in the long run or long time, the company able to change all of its factors of production, so all factors are variable.