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What SRAS shows

What SRAS shows

AD/AS diagram with one AD curve and three SRAS curves showing a left shift after higher production costs, a right shift after lower production costs, and a movement along SRAS when the price level changes

Aggregate supply is the total amount of goods and services firms are willing and able to produce at different price levels. On an AD/AS diagram, the vertical axis is the price level and the horizontal axis is real GDP, which is output adjusted for inflation.

2.3.2 Short-run AS Lesson

  1. A Level
  2. /Economics
  3. /2.3.2 Short-run AS