Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2.
B. P2 and Y1.
C. P3 and Y1.
D. P3 and Y2.
Answer: D
Economics
You might also like to view...
A firm that is currently producing at a level of output where marginal revenue is greater than marginal cost can increase profits by producing one more unit of output
a. true b. false
Economics
Refer to the graph shown. The profit-maximizing monopolist produces output:
A. Q1. B. Q2. C. Q3. D. Q4.
Economics
A person who has given up looking for work is termed a _____.
Fill in the blank(s) with the appropriate word(s).
Economics
In the short run a manufacturing firm's production equipment is a sunk cost.
Answer the following statement true (T) or false (F)
Economics