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In the jargon of stock market investing, the terms long and short indicate the type of position an investor has in a particular stock. Investors who buy and own stock shares are long those shares. A short position involves selling shares a trader does not own.
What is the 'Long Run'. A period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs, whereas in the short run firms are only able to influence prices through adjustments made to production levels. Additionally, whereas firms may be a monopoly in the short-term they may expect competition in the long-term.