Exhibit 14-3 Aggregate Supply and Demand Curves

question 182

Multiple Choice

Exhibit 14-3 Aggregate supply and demand curves

-The shift from AS₁ to AS₂ in Exhibit 14-3 could be caused by a(n) :

• A) sudden increase in the price of oil.
• B) increase in input prices for most firms.
• C) increase in workers' wages.
• D) all of the above.

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Definitions:

Reducing Marketing Costs

Involves strategies and practices aimed at lowering expenses associated with promoting and selling products or services, enhancing overall efficiency and profitability.

Sales Representatives

Individuals who represent a company by selling its products or services, often directly to customers or through various sales channels.

Educating

involves providing knowledge or instructing individuals on certain topics or skills, fostering understanding and development.

Personal Selling

A form of direct marketing where sales representatives interact directly with customers to present products or services, aiming to achieve a sale.