Short-run aggregate supply is /really/ sensitive to price– meaning something like inflation makes it hard for Matt to sustain his gnome habit, even while cement firms turn more profit than ever.
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Chapters:
0:00 – Introduction
2:13 – Short-run aggregate supply and its curve
6:35 – The determinants of short-run aggregate supply
9:23 – Automatic adjustment to the long run
10:33 – Conclusion
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