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. Raymond catalog prices after an increase in the price of cotton used for making clothing
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. Raymond catalog prices after an increase in the price of cotton used for making clothing
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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. Raymond catalog prices after an increase in the price of cotton used for making clothing appeared first on Superb Professors.
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