Microeconomic Dynamics in the Medium RunIn the medium run, markets tend to stabilize after short-run shocks. For the Philippines (2024-2025):Firms: Adjusting output and prices based on post-pandemic consumer behavior.Labor: Slowly recovering, but underemployment remains an issue.Prices: Stabilizing after inflation spikes in 2022-2023.Consumers: Spending cautiously due to interest rates and price sensitivity.Government: Trying to maintain low inflation while supporting growth.