|
|
LONG-RUN INDUSTRY SUPPLY CURVE: The relation between market price and the quantity supplied by all firms in a perfectly competitive industry after the industry as completed its long-run adjustment. The long-run industry supply curve effectively traces out a series of equilibrium prices and quantities the reflect long-run adjustments of a perfectly competitive industry to demand shocks. This long-run adjustment can take one of three paths: increasing, decreasing, and constant. These three adjustment paths indicate an increasing-cost industry, decreasing-cost industry, and constant-cost industry, respectively.
Visit the GLOSS*arama
|
|
|
|
|
ENERGY PRICES, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and that shifts the aggregate supply curve when it changes. An increase in the energy prices causes a decrease (leftward shift) of the aggregate supply curve. A decrease in the energy prices causes an increase (rightward shift) of the aggregate supply curve. Other notable aggregate supply determinants include technology, wages, and the capital stock. Energy prices fall under the resource price aggregate supply determinant.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for a thesaurus filled with typos.
Your Complete Scope
This isn't me! What am I?
|
|
|
One of the largest markets for gold in the United States is the manufacturing of class rings.
|
|
|
"If we all did the things we are capable of doing, we would literally astound ourselves." -- Thomas Edison
|
|
MRS
Marginal Rate of Substitution
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
