Make a List of Things That Would Shift the Long-Run

question 32

Essay

Make a list of things that would shift the long-run aggregate supply curve to the right.

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Definitions:

Development

The process of growth, progress, or evolution, often through incremental or innovative changes.

Prototype

An initial model or sample of a product used to test a concept or process before mass production.

Concept Testing

A marketing approach used to evaluate consumer response to a product idea before it is introduced to the market.

Commercialization

The process of bringing new products or technologies to the market, including production, distribution, and marketing activities.