Ceteris paribus, a leftward shift of the short-run aggregate supply curve is caused by?

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24-08-2022
Business

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Ceteris paribus, a leftward shift of the short-run aggregate supply curve is caused by?

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QWCobalt QWCobalt · Answer 1 · 2022-09-03T19:35:35+02:00

Ceteris paribus, a leftward shift of the short-run aggregate supply curve is caused by an increase in the price level. This increase further decreases the demand for the commodity.

Aggregate supply refers to the total amount of quantity supplied in an economy at a particular price level. In the short-run aggregate supply (SRAS), price and wages are constant. SRAS is affected by other determinants like factor prices, technology, labor productivity, factors of production, government rules, taxes, and so on.

The short-run aggregate supply curve is an upward-sloping curve representing the positive relationship between the number of commodities to be supplied and the aggregate price level. Movement of the curve to the left and right means a rise and fall in the aggregate price level respectively.

Learn more about the short-run aggregate supply curve: https://brainly.in/question/15095631

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