Brady, Michael Emmett - 2018
stock is held fixed, the aggregate supply function or price is TC plus Profit=TR. Letting P= profit, wN equaling TVC, and pO … continue to use his own original, simultaneous, four equation, IS-LM model because he could not satisfactorily integrate price … and profit expectations into the IS portion of the model. Keynes's model of an Aggregate Demand Function, D, and an …