What Is the Shape of the Long-Run Aggregate Supply Curve

question 159

Essay

What is the shape of the long-run aggregate supply curve? Why?

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Definitions:

Equation

An assertion that two expressions are equal, frequently involving one or more variables.

Find Slope

The process of determining the steepness or incline of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Passing Through

A term used to indicate that a line or curve intersects or goes exactly through a specific point or points on a graph.

Depreciated Value

The reduced value of an asset over time due to wear and tear, obsolescence, or aging.