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AS slopes upward because as the Price Level for outputs inputs remaining with the price of the costs of production are not rising and, all else equal, production. the lure of higher profits will induce firms to falls; fixed; decrease Orises; fixed; expand remains constant; constant; expand None of the above

AS slopes upward because as the Price Level for outputs inputs remaining with the price of the costs of production are not rising and, all else equal, production. the lure of higher profits will induce firms to falls; fixed; decrease Orises; fixed; expand remains constant; constant; expand None of the above

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 21P
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AS slopes upward because as the Price Level for outputs inputs remaining with the price of the costs of production are not rising and, all else equal, production. the lure of higher profits will induce firms to falls; fixed; decrease Orises; fixed; expand remains constant; constant; expand None of the above
Transcribed Image Text:AS slopes upward because as the Price Level for outputs inputs remaining with the price of the costs of production are not rising and, all else equal, production. the lure of higher profits will induce firms to falls; fixed; decrease Orises; fixed; expand remains constant; constant; expand None of the above
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