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You operate a manufacturing plant. Based on competitive industry conditions, you are unable to increase the size of your building (manufacturing plant), for 10 years.
You operate a manufacturing plant. Based on competitive industry conditions, you are unable to increase the size of your building (manufacturing plant), for 10 years. Your firm will not be producing at a large enough scale to warrant a larger plant for 10 years. Further, you will not be generating enough revenue and profit until 10 years from now to be able to pay for the larger facility. Your situation for the next 10 years describes: S the short run, (1 resource is fixed) the long run, (no resources are currently fixed)
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