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Marginal productivity of labor and capital inputs

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Explain how each of the following factors may affect LRAS and SRAS respectively.

In particular, explain whether and in which direction each of the building blocks of LRAS and SRAS . viz., labor supply (Ns) ; labor demand (Nd); capital supply (Ks) ; capital demand (Kd); and the production function . as well as the aggregate supply (AS) curves themselves may shift in response to the changes below: A new technological innovation (e.g., launch of 6G) that raises the marginal productivity of both labor and capital inputs.

Reference no: EM132484714

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