What assumptions cause the immediate-short-run aggregate supply curve to be horizontal? Why is the long-run aggregate supply
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The immediate shortrun supply curve is horizontal because of contractual agreements These contracts for both input and output prices imply that prices ...View the full answer
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Related Book For 
Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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