For the Aggregate Supply Curve,the Profit Effect

question 47

Multiple Choice

For the aggregate supply curve,the profit effect

• A)Provides an incentive for producers to decrease output when prices rise.
• B)Dominates in the long run and causes the curve to be upward-sloping.
• C)Along with the cost effect causes the curve to be downward-sloping in the long run.
• D)Is temporary in the short run,while in the long run it is canceled out because the cost effect dominates.

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