What assumptions cause the immediate short run aggregate supply curve to be hori

Question

What assumptions cause the immediate short run aggregate supply curve to be horizontal? Why is the long run aggregate supply curve vertical? Explain the shape of the short run aggregate supply curve. Why is the short run curve relatively flat to the left of the full employment output and relatively steep to the right? What assumptions cause the immediate short run aggregate supply curve to be horizontal? Why is the long run aggregate supply curve vertical? Explain the shape of the short run aggregate supply curve. Why is the short run curve relatively flat to the left of the full employment output and relatively steep to the right?

Explanation / Answer

What assumptions cause the immediate-short-run aggregate supply curve to be horizontal?
Why is the long-run aggregate supply curve vertical? Explain the shape of the short-run aggregate
supply curve. Why is the short-run curve relatively flat to the left of the full-employment output
and relatively steep to the right?

Answer:

The immediate short-run supply curve is horizontal because of contractual
agreements. These

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