In deriving the aggregate demand curve a ________ inflation rate leads the central bank to ________ real interest rates, thereby ________ the level of equilibrium aggregate output

The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur?

A) Graph A B) Graph B C) Graph C D) Graph D

In the long run, in a price-taker market, the price of a good is determined primarily by the

a. average total cost of producing it. b. decision of buyers in determining how much they are willing to pay for the good. c. elasticity of supply. d. number of firms in the industry.