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Why is the long-run AS curve vertical at potential real GDP? 100% utilization of all resources producers' profits are increasing at this point unemployment equals
Why is the long-run AS curve vertical at potential real GDP? 100% utilization of all resources producers' profits are increasing at this point unemployment equals zero there is a very strong relationship between further price changes and output produced Production costs are at the lowest level possible
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
