Which of the following will cause an increase in aggregate supply?
A) decreased competition
B) an increase in the price level
C) an increase in marginal tax rates
D) a decrease in input prices
D
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Using the information in the table, develop the four-firm concentration ratio. Would you classify this industry as an oligopoly? Explain your answer
What will be an ideal response?
A market in which a single firm can produce, at a lower cost than multiple firms, the entire quantity of output demanded is called:
A. diseconomies of scale. B. government intervention. C. a natural monopoly. D. price gouging.
The level of output at which marginal revenue equals zero is also the level of output at which a. total revenue is zero
b. profit is maximized. c. total revenue is maximized. d. total revenue is declining.
Discuss how the interdependence of input markets for labor, capital, and land might affect supply, demand, and wages or rental prices.
What will be an ideal response?