To raise output, a firm in industry X has to install capital equipment, whereas a firm in industry Y has to research and then introduce a new technology. Which time periods are shown by these examples?
- Aindustry X: short run; industry Y: long run
- Bindustry X: long run; industry Y: long run
- Cindustry X: long run; industry Y: very long run
- Dindustry X: very long run; industry Y: very long run