Aggregate Supply and Its Axes
Aggregate Supply and Its Axes
Aggregate supply shows the real output that firms across an economy plan or are able to produce at different average price levels. The vertical axis is the average price level, while the horizontal axis is real output.
Step-by-step lessons on CIE Intl A Level Economics 4.3.8 shape of the AS curve in the short run and the long run. Each one builds up to exam-style questions.