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5. Derive analytically the short-run aggregate supply curve from the sticky-price model. Describe what happens the in the following special cases. a. No firms have
5. Derive analytically the short-run aggregate supply curve from the sticky-price model. Describe what happens the in the following special cases. a. No firms have flexible prices (s = 1). b. The desired price does not depend on aggregate output (a = 0)
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
