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What else can I help you with?
Is the price elasticity of supply usually larger in the short run or in the long run?
long run is ever smaller than short run
In normal cirucmstances is there a short run tradeoff between the rate of inflation and the rate of unemployment?
Yes. Inflation causes businesses to have to cut costs, and labor is one of the easily cuttable costs. See the Phillips Curve.
In short run does demand pull raise both the price level and the real output?
No, it only raises the price level. Output cannot adjust quick enough in the "short run". That's why it's called the short run.
What is a Home Run in an Elevator shaft?
high short pop up
What is the top speed a cheetah can reach?
A cheetah can run at 70mph but only for short distances, they usually run at 40-50 mph.
What are the key differences between the long run supply curve and the short run supply curve in economics?
The key difference between the long run supply curve and the short run supply curve in economics is that the long run supply curve is more elastic and flexible, as firms can adjust their production levels and resources in the long run. In contrast, the short run supply curve is less elastic and more rigid, as firms have limited ability to change their production capacity in the short term.
What is the lowest point on a firms short run supply curve?
The minimum is price=average cost below this price supply=0
Why is the short-run aggregate supply curve horizontal if?
The short-run aggregate supply curve is horizontal if the economy is operating below full capacity, meaning there are unused resources like labor and capital. This indicates that firms can increase production without raising prices, resulting in a flat supply curve.
A horizontal short-run aggregate supply SRAS curve implies that in the short run?
In the short run, prices are fixed and firms produces output to meet demands. So, firms take prices as given and produce output to meet desired expenditure.
What factors influence the short run aggregate supply curve?
Factors that influence the short run aggregate supply curve include changes in input prices, technology, government regulations, and expectations of future prices. These factors can impact the cost of production and the ability of firms to supply goods and services in the short term.
The short term aggregate supply curve represents the relationship between what?
The short term aggregate supply curve represents the relationship between the price level and the quantity of real GDP that firms are willing to supply in the economy. It shows the level of output that firms can produce in the short run at different price levels.
Why is it that short run aggregate supply curve is normal?
Because the supply curve basically is for the short run, and not permanent for the long run. That's why it's considered normal.
Is The supply curve more or less elastic in the long run than the short run?
more
A firm's marginal cost curve above the average variable cost curve is also?
A firm's short run supply curve
What is the shape of supply curve during the market period?
The supply curve during the market period is perfectly inelastic and vertical. This shows that the supply cannot be increased in the short run.
What factors determine the shape of the long run supply curve in perfect competition?
The shape of the long run supply curve in perfect competition is determined by factors such as technology, input prices, and economies of scale. These factors influence the ability of firms to produce goods efficiently and at different levels of output, which in turn affects the overall shape of the supply curve.
Why is the short run supply curve positively sloped?
The short run supply curve is positively sloped because it has positive outputs.The profits are high and maximised.Short run decision for a firm is the quickiest and the most risky way to maximise profits in the short period of time.In the short run decision profits are usually reached which means that the firm didn't loose so the curve must be positively sloped as the firm is not in minus. hope I helped.....
