Please enable JavaScript.
Coggle requires JavaScript to display documents.
Economics 2.3.1 - Coggle Diagram
Economics 2.3.1
AS curve
total quantity of goods and services that producers in the economy are willing and able to supply at different price levels ceteris paribus
-
-
-
-
in the long run, the prices and wages are flexible
-
Short run AS
-
-
if firms want to increase SRAS firms will increase the hours that their employers do and they won't hire more permanent staff as they might have to sack them in the future which ruins their reputation
-
-
-
-
-
-