In 1998, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply 70 $1415.00 $1115.00 80 $1360.00 $1160.00 90 $1305.00 $1205.00 100 $1250.00 $1250.00 110 $1250.00 $1295.00 120 $1140.00 $1340.00 130 $1085.00 $1385.00 What was the equilibrium price level in Aptonville in 1998?

In 1998, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply 70 $1415.00 $1115.00 80 $1360.00 $1160.00 90 $1305.00 $1205.00 100 $1250.00 $1250.00 110 $1250.00 $1295.00 120 $1140.00 $1340.00 130 $1085.00 $1385.00 What was the equilibrium price level in Aptonville in 1998?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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