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10 cards from this deck
Total quantity producers willing to supply at different price levels
Price level and production costs
Non-linear/curved, becomes steeper as output increases
Increased real output with small price rise (reflationary)
Lower costs/taxes; higher subsidies, productivity, tech progress
Maximum sustainable output at full production potential
Technology, capital/labour quantities, productivity, factor mobility
Free-market view: economy naturally tends towards full employment
Inverted L-shape (horizontal then upward then vertical)
Higher inflation and lower output (from leftward SRAS shift)
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