The Aggregate Supply Curve Relates the Price Level to the Quantity

question 112

Multiple Choice

The aggregate supply curve relates the price level to the quantity of output that firms would like to produce and sell,given the assumption that

• A)all firms are price takers.
• B)all firms are price setters.
• C)the state of technology is constant.
• D)the prices of all factors of production are constant.
• E)both C and D

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