Question
In mainstream macroeconomics (neoclassical theory) the upward sloping supply curve rest on the assumption that factors of productions are scarce. How should the supply curve
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In mainstream macroeconomics (neoclassical theory) the upward sloping supply curve rest on the assumption that factors of productions are “scarce”. How should the supply curve be drawn if we assume that factors of productions are not scarce (the stock of capital and labor are not fully utilized and employed)? Horizontal or V ertical?
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If factors of production are not scarce and the stock ...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
