The length of time between the short run and long run varies across sectors of the economy. For the following industries, estimate the time it takes to reach the “long run” based upon knowledge of how quickly prices in this industry change in response to the given shock. Describe the rational underlying each of the estimates. 1.Orange juice prices after a severe drought destroys crops in Nagpur
The length of time between the short run and long run varies across
sectors of the economy. For the following industries, estimate the time it takes to reach the “long run” based upon knowledge of how quickly prices in this industry change in response to the given shock. Describe the rational underlying each of the estimates.
1.Orange juice prices after a severe drought destroys crops in Nagpur
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The post The length of time between the short run and long run varies across sectors of the economy. For the following industries, estimate the time it takes to reach the “long run” based upon knowledge of how quickly prices in this industry change in response to the given shock. Describe the rational underlying each of the estimates. 1.Orange juice prices after a severe drought destroys crops in Nagpur appeared first on Superb Professors.
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