In mainstream macroeconomics (neoclassical theory) the upward sloping supply curve rest on the assumption that factors of
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In mainstream macroeconomics (neoclassical theory) the upward sloping supply curve rest on the assumption that factors of productions are “scarce”. How should the supply curve be drawn if we assume that factors of productions are not scarce (the stock of capital and labor are not fully utilized and employed)? Horizontal or V ertical?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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