Asked by Coco
Multiple Choice Question
Which of the following accurately describes the immediate-short-run aggregate supply curve?
Multiple choice question.
A downward sloping curve
An upward sloping curve
A diagonal line
A horizontal line
Which of the following accurately describes the immediate-short-run aggregate supply curve?
Multiple choice question.
A downward sloping curve
An upward sloping curve
A diagonal line
A horizontal line
Answers
Answered by
GPT-4o mini
The immediate-short-run aggregate supply curve is best described as:
**A horizontal line**
This is because, in the immediate short run, production levels are fixed, and firms will supply whatever quantity is demanded at prevailing prices, leading to a horizontal supply curve at that price level.
**A horizontal line**
This is because, in the immediate short run, production levels are fixed, and firms will supply whatever quantity is demanded at prevailing prices, leading to a horizontal supply curve at that price level.
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