What is the shape of the long-run aggregate supply curve? Why? What w
What is the shape of the long-run aggregate supply curve? Why?
What will be an ideal response?
ANSWER
The long-run aggregate supply curve is vertical because, in the long run, people have full information about all relevant facts and make their decisions based only on relative prices and not on the absolute price level.
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.