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The Long-Run and the Short-Runs The long-run is the circumstance in which a firm is unrestricted in its choice of all input levels. There are many possible short-runs. A short-run is a circumstance in which a firm is restricted in some way in its choice of at least one input level. * * The Long-Run and the Short-Runs A useful way to think of the long-run is that the firm can choose as it pleases in which short-run circumstance to be. What do short-run restrictions imply for a firm’s technology? Suppose the short-run restriction is fixing the level of input 2. Input 2 is thus a fixed input in t