The long-run aggregate supply curve shifts left if
a. the capital stock increases.
b. there is a natural disaster.
c. the government removes some environmental regulations that limit production methods.
d. None of the above is correct.
b
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Assume the demand function for a particular good can be written as P = 150 - 6Q. When P = 12, the point elasticity of demand equals 2.08
Indicate whether the statement is true or false
Suppose Campus Books, a profit-maximizing firm, is the only supplier of the textbook for a given class. The marginal cost of supplying each book is constant and equal to $10, and Campus Books has no fixed costs. The table below shows the reservation prices of the eight students enrolled in the class.StudentReservation Price($/Book)Q60R54S48T42U36V30W30X30 What price will Campus Books charge if it must charge a single price to all of its customers?
A. $36 B. $24 C. $10 D. $18