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    The long-run aggregate supply (LRAS) curve

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    The long-run aggregate supply curve is vertical at the economy's potential output level. Why is the long-run aggregate supply curve located at his level of output rather than below or above the potential output level?

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    https://brainmass.com/economics/output-and-costs/long-run-aggregate-supply-curve-17224

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    The long-run aggregate supply (LRAS) curve relates the price level to real national income after wage rates and all other input costs have been fully adjusted to eliminate any ...

    Solution Summary

    The long-run aggregate supply (LRAS) curve is described.

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