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According to real business cycle theory,the primary causes of business cycles are
Price-taker Market
A market situation where buyers and sellers accept the prevailing market price as they individually have no influence over it.
Short-run Market Supply
The total quantity of a good that producers are willing and able to sell at a given price over a short period.
Marginal Cost Curves
graphical representations that show how the cost of producing one additional unit of a good or service varies with the quantity produced.
Price Taker
A price taker is a firm or individual who has no power to influence the prices in a market, taking the prevailing prices as given.
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