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04-02-2024
Business

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Suppose there is a technological breakthrough in the economy that makes production more efficient. Which of the following shifts in SRAS and LRAS would result in this scenario?
1) SRAS shifts to the right and LRAS shifts to the right
2) SRAS shifts to the right and LRAS shifts to the left
3) SRAS shifts to the left and LRAS shifts to the right
4) SRAS shifts to the left and LRAS shifts to the left

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