1. What is the difference between the long-term aggregate supply and the short term supply?(also diagrammatically)2. New Supply - how do we measure it? How can we calculate it (example/ exercise)?

The amount of a certain product or service that suppliers are willing to offer to consumers at a…

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1. What is the difference between the long-term aggregate supply and the short term supply? (also diagrammatically)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 2QR

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1. What is the difference between the long-term aggregate supply and the short term supply?
(also diagrammatically)
2. New Supply - how do we measure it? How can we calculate it (example/ exercise)?

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