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Economics LRAS?

What is the difference between the non-linear SRAS curve and the non-linear (Keynesian) LRAS curve?
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Reply 2
Original post by nominalinterest
What is the difference between the non-linear SRAS curve and the non-linear (Keynesian) LRAS curve?


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Reply 3
I believe, the SRAS non-linear curve is regarding the "output" - in the sense that it's elasticity is to do with the costs of production, such as a rise in the oil prices. The LRAS non-linear curve is regarding the quality and quantity of factors of production.
(edited 7 years ago)

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