What is the short-run equilibrium gap called


Assume the economy is initially in a long-run equilibrium. Describe the movement from a short-run to a long-run equilibrium following an increase in demand.

What is the short-run equilibrium gap called? Why?

Solution Preview :

Prepared by a verified Expert
Microeconomics: What is the short-run equilibrium gap called
Reference No:- TGS02844936

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)