Determinants of Short-run Aggregate Supply (SRAS)
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Taxes and Subsidies
A per unit tax is treated by firms as an additional cost of production and would therefore decrease the supply cure, or shift it leftward A per unit subsidy lowers the per unit cost of production and therefore shifts the supply curve rightward
technology
increase or decrease in the production of something using technology
Government Regulation
the act of controlling business behavior through a set of rules or laws
productivity
the quantity of goods and services produced from each unit of labor input
input prices
wages, prices of raw materials
