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Q2. Suppose the economy is in a long-run equilibrium.A) Draw a diagram to illustrate the state of the economy.B) Explain and show how improvement of

Q2. Suppose the economy is in a long-run equilibrium.A) Draw a diagram to illustrate the state of the economy.B) Explain and show how improvement of technology will affect both short and long aggregate supply.

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Q2. Suppose the economy is in a long-run equilibrium. A) draw a diagram to illustrate the state of the economy. (4 pts.) B) Explain and show how improvement of technology will affect both short and long aggregate supply. (8 pts.)

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