If Firms Are Willing to Produce and Sell More Output

question 146

Multiple Choice

If firms are willing to produce and sell more output when prices rise,this implies

• A)an upward-sloping short-run aggregate supply curve.
• B)a vertical short-run aggregate supply curve.
• C)an upward-sloping aggregate demand curve.
• D)a horizontal aggregate supply curve.

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Definitions:

Franchisor

A business entity that allows individuals or other businesses to operate a location or outlets under its brand name, providing a business model, brand, and support in exchange for fees and adherence to its operational guidelines.

Loss Of Control

The reduction or elimination of an individual's or entity's power to make decisions in a company or over its assets.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Bulk Purchasing

The process of buying goods in large quantities at a discounted rate to save money and increase profit margins.