Why is the long-run aggregate supple curve vertical

Assignment Help Microeconomics
Reference no: EM13243441

Why is the long-run aggregate supple curve vertical? Explain the shape of the short run aggregate supply curve. Why is the short-run curve relatively flat to the left of the full-employment output and realively steep to the right?

Reference no: EM13243441

Questions Cloud

How do unions affect other industries in terms of employment : Are unions good or bad forthe economy How do unions at GM and Ford affect employment levelsand wages How do unions affect other industries in terms ofemployment and wage levels
What is the mass of the sphere : A 21.0 g copper ring at 0.000°C has an inner diameter of D = 2.54000 cm. An aluminum sphere at 108.0°C has a diameter of d = 2.54508 cm, What is the mass of the sphere
If producing a good generates pollution : If producing a good generates pollution (a negative externality), from a social perspective ...
Define what is the molar mass of the gas : A large flask with a volume of 936mL is evacuated and found to have a mass of 134.66 g. it is then filled to a pressure of 0.967atm at 31 C with a gas of unknown molar mass and then reweighed to give a new mass of 135.91 g. what is the molar mass ..
Why is the long-run aggregate supple curve vertical : Why is the long-run aggregate supple curve vertical Explain the shape of the short run aggregate supply curve. Why is the short-run curve relatively flat to the left of the full-employment output and realively steep to the right
Find potential difference between the ends of the wire : A 1.0mm -diameter, 40cm -long copper wire carries a 3.5A current, What is the potential difference between the ends of the wire
How much of the change in mr smiths consumption of x : Mr. Smith has a weekly income of M = $24. Initially the prices of Xand Y are both $2/unit and Mr. Smith buys 6 units each of X and Yeach week, a bundle on indifference curve I0. Then, ceterisparibus, the price of X increases to $4/unit
Compute the number of moles of gas present : a gas has a volume of 2.57L, a pressure of 1.54 atm, and a temperature of 24.5 C. calculate the number of moles of gas present.
Your son is graduating from high school and is about : Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works

Reviews

Write a Review

Microeconomics Questions & Answers

  Management function and behaviour

What are the various methods of inventory valuation? Explain the effect of inventory valuation methods on profit during inflation. What are the provisions of Accounting Standard 2 (AS-2) with regards to inventory valuation?

  How to prevent the short-run economic recession

Assume that keynesian model applies to the economy in the short-run. After the stock market fell sharply in 2008, the aggregate denabd decreased greatly around the world. in order to prevent the short-run economic recession, which monetary policy ..

  What advantages do convertible bonds have for issuing firm

What is a convertible bond and why do investors find such bonds attractive? What advantages do convertible bonds have for the issuing firms? What stakeholder group might be harmed when a firm issues convertible bonds?

  Explain economic growth

Within rich economies, there is strong evidence of convergence ________.for regions within a country.with developing economies. leading to military conflict.

  Description of competition

Assume you ran the only bakery in town. Further suppose that it was currently very profitable. A. What things might you consider if you wanted to ensure that you continued to enjoy the same success in the future?

  Independence of risks matter in the examples of insurance

Why does the assumption of independence of risks matter in the examples of insurance? What would happen to premiums if the probabilities of houses burning were positively correlated?

  Calculate the change in deadweight loss

Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.

  How many bouquets to sell per month

If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $3 per unit, how many bouquets per month should she sell in the short r..

  Question related to monopolistic competition

Do you think the overall level of R&D would rise or reduce over the next twenty to thirty years if the lengths of new patents were extended from twenty years to, say "forever"?

  General utility maximization

First ignore the implicit constraints: 8 i; xi  0 and give the FOCs. Then take them into account and give the Kuhn-Tucker Conditions. Simplify your expressions as far as you can.

  Explain why government regulation is needed in economy

Assuming that the merger faces some threats and that the industry decides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expansion via capital projects.

  Aggregate demand and supply

For each of the following state whether you would make an aggregate demand or aggregate supply diagram and forecast what shift each condition would cause in the AS or AD curve and why so.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd