Habib Hussain Khan In my understanding, a long-run relationship refers to a normal relationship over the course of actions (this is also known as equilibrium relationship). However, a short-run relationship is an exception in the long-run relationship (for a shorter time period). For example, Mr. A and Mr. B are very good friends since their childhood (almost always seen together). During the course of their friendship, they had an argument and didn't talk to each other for several months (a short-term deviation from friendship). After this short break, they are again together ( the long-run relationship is corrected).
