A Shift in the Production Function Will Shift the Long-Run

question 22

True/False

A shift in the production function will shift the long-run aggregate supply curve.

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Definitions:

Provided

A term used to indicate that something is supplied or made available to someone or for some process.

Expected Product

The Expected Product is the chemical entity anticipated to result from a specific reaction under defined conditions.

Reaction

A process in which substances (reactants) are converted into different substances (products) with new physical and chemical properties.

Below

Generally used to indicate something in a lower position or level. In scientific contexts, could also relate to being lesser in degree or extent.