In the Long Run, an Increase in the Price Level

question 176

Multiple Choice

In the long run, an increase in the price level:

• A)​increases output prices relative to input prices.
• B)​increases the profit margins of many producers.
• C)​increases RGDP supplied.
• D)​Does none of the above.

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Definitions:

Business Hours

The specific times during which a business is open to its customers or clients, typically defined by each company.

Customer Availability

Describes the extent to which customers can access or purchase goods and services at a given time.

Horizontal Merger

A type of business consolidation that occurs between firms that operate in the same industry.

Vertical Merger

A combination of two or more companies at different stages of production in the same industry.