Examlex
If technological change shifts the long-run aggregate-supply curve to the right, it will also do which of the following?
Price Maker
A firm or entity that has the power to influence the price at which a product or service is sold, typically due to a lack of competition or a unique product offering.
Demand Curve
A visual representation indicating the quantity of a good consumers are ready to purchase at various prices, usually sloping downwards to the right.
Monopoly Firm
A company that is the sole provider of a product or service in a market, facing no direct competition.
Computing Monopoly Profit
Involves calculating the difference between a monopolist's total revenues and total costs, highlighting the profit maximization under a monopoly market structure.
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