If profit per unit equals (price - cost per unit) and costs are temporarily fixed, then the aggregate supply curve will have
a. a basic "U" shape.
b. a negative slope.
c. a positive slope.
d. All of the above could be correct.
c
Economics
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A change in taxes of a given amount shifts the consumption function vertically by ____ than that amount, because the marginal propensity to consume is ____
a. less; less than 1 b. greater; greater than 1 c. greater; always equal to 1. d. less; equal to zero.
Economics
The value added by any firm equals the firm's ________ from selling the product minus ________.
A. revenue; the cost of inputs purchased from other firms B. profits; the cost of inputs purchased from other firms C. profits; labor expenses D. revenue; labor expenses
Economics