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Use the figure below to answer the following question(s) .
Figure 10-15
-The economy's short-run (SRAS ) and long-run (LRAS) aggregate supply curves are shown in Figure 10-15, along with three alternative aggregate demand curves and the accompanying equilibrium points. At which point will resource prices naturally tend to decrease?
Operating Cost
Expenses associated with the day-to-day functioning of a business, such as rent, utilities, and salaries.
Subway Fares
The charges or fees paid by passengers for using the subway system for transportation.
Patent Laws
Legal statutes that protect inventors by giving them exclusive rights to produce, use, and sell their inventions for a certain period of time.
Monopoly Rights
Exclusive rights granted to a single entity, allowing it to be the sole provider of a good or service without competition.
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