The Aggregate Supply Curve Is Usually Assumed to Get Progressively

question 119

Multiple Choice

The aggregate supply curve is usually assumed to get progressively steeper at relatively higher levels of output because

• A)of increasing factor prices.
• B)of increasing productivity of the factors of production.
• C)of diminishing marginal productivity of the factors of production.
• D)of rising competition among price setters.
• E)of excess capacity at higher levels of output.

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Definitions:

Soft Drinks

Non-alcoholic beverage, typically carbonated, which includes sodas, colas, and other flavored and sweetened drinks.

Misrepresentation

The act of providing false or misleading statements or information, intentionally or unintentionally, about a material fact.

Fraud

A deliberate deception to secure unfair or unlawful gain, often at the expense of others.

Negligence

Not acting with the care expected from a reasonably prudent person in identical situations.