Aggregate Supply: A Further Look

D. C. Rowan
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D. C. Rowan: University of Southampton

Chapter Chapter 15* in Output, Inflation and Growth, 1983, pp 281-290 from Palgrave Macmillan

Abstract: Abstract In the last chapter, we constructed the aggregate supply schedule on the assumptions that: (a) businesses aimed to maximise profits (b) the market system was one of ‘pure competition’ (c) a short-run production function existed, while both the stock of real capital (K) and the money wage rate (W) were given: the former as the result of history, the latter as the result of a bargaining process yet to be discussed in any detail

Keywords: Aggregate Demand; Order Book; Aggregate Supply; Pure Competition; Money Wage (search for similar items in EconPapers)
Date: 1983
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DOI: 10.1007/978-1-349-06800-5_17

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