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How Demand Determines Output in the Short run

eBook (PDF), 4 Pages
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Price: $1.99
Typically, firms that supply intermediate goods such as steel rods or other inputs let demand not price determine the level of output in the short run. To understand this idea, consider an automobile firm that buys material from a steelmaker on a regular basis. Because the auto firm and the steel producer have been in business with one another for a long time and have an ongoing relationship, they have negotiated a contract that keeps steel prices fixed in the short run.
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Product Details

Published
May 29, 2013
Language
English
Pages
4
File Format
PDF
File Size
483.86 KB

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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