long run

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Long run

A period of time in which all costs are variable; longer than one year.

Long Run

Informal for long term. The term is notable for John Maynard Keynes' quote, "In the long run, we are all dead."

long run

an abstract time period (in the THEORY OF SUPPLY) long enough for all FACTOR INPUTS to be varied, but within an existing technological framework (known production methods). Thus, the firm's plant size, which is fixed in the short run, can now be altered to allow for an increased scale of operations.

In the VERY LONG RUN, the technological framework itself changes as a result of new INVENTIONS and knowledge. Compare SHORT RUN. See also ECONOMIES OF SCALE, DISECONOMIES OF SCALE, RETURNS TO SCALE.

References in periodicals archive ?
STAR TEAMTrainer Nicky Henderson with Punchestowns (left) and Long Run (right) at his Seven Barrows, Hungerford, Berkshire stables.
Long Run also became the first six-year-old to win for almost 50 years since Mill House scored in 1963.
The Congress and the Administration are considering short-run fiscal stimulus and steps to reduce the deficit in the long run.
An intensive session of schooling over a puissancestyle showjumping fence -- conducted by equine guru Yogi Breisner -- led to an improved display over Haydock's obstacles when Long Run took fourth in the Betfair Chase last Saturday.
With no disrespect to Waley-Cohen I would now be looking to Geraghty to hopefully re-galvanize Long Run.
He's a dentist by trade but he is a fantastic horseman and gets on so well with Long Run.
The Giant Bolster was 50-1 when he finished second to Synchronised in the Gold Cup in March, with Long Run third, and at Haydock on Saturday he has his first chance to prove it was no flash in the pan.
Trained by Nicky Henderson and owned by Waley-Cohen's father, Robert, Long Run is a horse with enormous potential and many people will wonder why Henderson's stable jockey Barry Geraghty or, say, AP McCoy have not be approached for the ride.
The long run is an essential training tool for marathoners.
The runner should go into the long run relatively fresh and have one or two recovery days afterward.
Ruby has ever ridden Long Run before but it made sense to book him as he will already be over there for Willie Mullins.
TIDAL Bay and Long Run head a maximum field of 40 for the Crabbie's Grand National at Aintree after all the leading fancies stood their ground at the final declaration stage.