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The Short-Run Aggregate Supply Curve
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The Short-Run Aggregate Supply Curve
To understand the fact that many costs are fixed in nominal terms given the rise to an upward-sloping short-run aggregate supply curve it's good to know that prices are set up different in the different kinds of markets.
There is 2 kinds of markets: Perfectly competitive markets and imperfectly competitive markets
In perfectly competitive markets, producers take the price given.
In imperfectly competitive markets, producers have some availability to choose prices they charge.
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- 12th grade Government Mind Map on The Short-Run Aggregate Supply Curve, created by Alejandra Lopez on 20/04/2018.
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- Alejandra Lopez
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