Supply Side-ShortRun

Supply Side-ShortRun - Supply Side-Short Run A...

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Supply Side-Short Run A. Introduction !"#$# &'(')& ")* +,- .'/0)"1"234 56"&7/$8") 97)/$8")* : ; <+=>?>@- #0"A# $0' BCD8B7B CB"7)$ "< "7$(7$ +:- $0C$ /C) E' (6"&7/'& 28F') &8<<'6')$ /"BE8)C$8")# "< 6'#"76/'# += ; =CE"6> ? ; !C(8$C1> @ ; G$0'6 @'#"76/'#- H"$'* #7E#8$7$CE818$34 +I- 568/'# "< J)(7$# +K- LC)C2B')$ B. Short-Run vs. Long-Run M0"6$N67) N )"$ C11 8)(7$# /C) E' C&O7#$'& =")2N67) N C11 8)(7$# /C) E' C&O7#$'& C. Short-Run Example Definitions: =* P7C)$8$3 "< 1CE"6 'B(1"3'& E3 $0' <86B4 :* $"$C1 "7$(7$> "6 $"$C1 (6"&7/$> $0C$ 6'#71$# <6"B 'B(1"38)2 $0' /"66'#(")&8)2 CB"7)$ "< 1CE"6 A8$0 $0' <8D'& CB"7)$ "< BC/08)'63 "6 /C(8$C1 +?- C)& "$0'6 6'#"76/'# [email protected] L5 = * BC628)C1 (6"&7/$ "< 1CE"6 ; $0' /0C)2' 8) "7$(7$ 6'#71$8)2 <6"B $0' 'B(1"3B')$ "< C) C&&8$8")C1 7)8$ "< 1CE"6 ; ǻ :Q ǻ = R5 = * CF'6C2' (6"&7/$ "< 1CE"6 ; : Q = .9!* $"$C1 <8D'& /"#$#> 84'4> /"#$# 8)&'(')&')$ "< $0' CB"7)$ "< "7$(7$ (6"&7/'& +'424> 6')$C1 (C3B')$# ") 'P78(B')$- .S!* $"$C1 FC68CE1' /"#$#> 84'4> /"#$# $0C$ FC63 A8$0 $0' 1'F'1 "< "7($7$ (6"&7/'&4 J)
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