​Initially, an economy has a maximum real GDP of​ $5 trillion. ​1.) Using the line drawing tool​, draw the​ long-run aggregate supply curve. Label it LRAS1. ​2.) Then suppose that increases in labor productivity increase the productive capacity of the economy. Using the line drawing tool​, draw the new​ long-run aggregate supply curve. Label it LRAS2. Carefully follow the instructions​ above, and only draw the required objects.

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Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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