Explain and diagrammatically represent the difference between equilibrium in the short run and in the long run

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Explain and diagrammatically represent the difference between equilibrium in the short run and in the long run using the AD-SRAS-LRAS model.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:13 AM

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Explain and diagrammatically represent the difference between equilibrium in the short run and in the long run

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At point 1 the SRAS curve intersects the AD curve and the economy is in shortrun equilib...View the full answer

Economics

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