Examlex
Briefly describe the rise of modern botany in the eighteenth century and explain the importance of this new field.
Aggregate Supply
The total supply of goods and services that firms in an economy are willing and able to sell at different price levels.
Short-Run
A period during which at least one input, such as plant size or capital, is fixed, allowing only some production variables to be adjusted.
Long-Run
A period in economics where all factors of production and costs are variable, and all market adjustments to changes have been completed.
Aggregate Supply
The complete production of goods and services within a country's economy at an established price level over a defined period.
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