Why do we assume that changes to Total Factor Production are persistent? i know that its important and that it affects the outcome. is it because persistent means the changes are not temporary in the market and therefore doesnt try to readjust over time but rather it has long term affects.

Why do we assume that changes to Total Factor Production are persistent? i know that its important and that it affects the outcome. is it because persistent means the changes are not temporary in the market and therefore doesnt try to readjust over time but rather it has long term affects.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 13QP

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