Suppose the expected price level increases. Which curves in the aggregate demand and aggregate supply model would be affected, and which way would they shift?

Economies of scale exist over all ranges of output for which short-run average total cost exceeds long-run average cost

a. True b. False Indicate whether the statement is true or false

With other things constant, the supply schedule for a particular good indicates the quantities

a. actually sold with different productive capacities b. supplied with different productive capacities c. actually sold at various prices of the good d. supplied at various prices of the good e. supplied at various prices of the good and with various productive capacities