1. Under what circumstances would the interdependence of firms give rise to a vertical long-run AS curve?...
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1. Under what circumstances would the interdependence of firms give rise to a vertical long-run AS curve?
2. If a shift in the aggregate demand curve from AD1 to AD2 in Figure 3 causes a movement from point a to point d in the long run, would a shift in aggregate demand from AD2 to AD1 cause a movement from point d back to point a in the long run?
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1 When costs rise by the same percentage as the increase in demand This will occur at full employmen...View the full answer
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