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Thread: Long Run Short Run Behavior

  1. #1
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    Long Run Short Run Behavior

    Hello,
    I do not understand how to get the long run and short run for the following problem. The main problem is how I know what it looks like, 1/x or 1/x^2 or -

    the problem:

    x^2/x-1

    thanks
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by cokeclassic View Post
    Hello,
    I do not understand how to get the long run and short run for the following problem. The main problem is how I know what it looks like, 1/x or 1/x^2 or -

    the problem:

    x^2/x-1

    thanks
    When $\displaystyle |x|$ is small $\displaystyle x-1$ behaves like $\displaystyle -1$, and so $\displaystyle x^2/(x-1)$ behaves like $\displaystyle -x^2$.

    When $\displaystyle |x|$ is large $\displaystyle x-1$ behaves like $\displaystyle x$, so $\displaystyle x^2/(x-1)$ behaves like $\displaystyle x$.

    CB
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  3. #3
    MHF Contributor

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    Quote Originally Posted by cokeclassic View Post
    Hello,
    I do not understand how to get the long run and short run for the following problem. The main problem is how I know what it looks like, 1/x or 1/x^2 or -

    the problem:

    x^2/x-1

    thanks
    Do the division. $\displaystyle x^2$ divided by x- 1 is $\displaystyle x+ \frac{1}{x-1}$. For very large x, that acts like x.
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