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Why Is the Long- Run Aggregate Supply Curve Vertical

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Why is the long- run aggregate supply curve vertical?


Definitions:

Moral Panics

Widespread public anxiety or fear that some evil threatens the well-being of society, often disproportionate to the actual threat.

Pedophiles

Individuals who have a primary or exclusive sexual interest in prepubescent children, generally aged 13 years or younger.

Mandatory Minimum

A predetermined minimum sentence prescribed by law that must be imposed for specific crimes.

Incarcerated

Being confined in a prison or jail as a result of criminal conviction.

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