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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

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Costs And The Supply Of Goods
Section: Chapter Questions
Problem 11CQ
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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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