Business, 12.11.2019 04:31, angie0000

Asimple model of a firm describes it as an entity that buys – (for example, labor) and sells – (goods and services). a firm’s input prices, which affect costs, are generally – in the short run, while a firm’s output prices, which affect revenue, are –. therefore, an increase in the short-run price level raises revenue – than costs, so firms produce more in the short run. consequently, the sras curve slopes upward.

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