Business, 25.04.2020 01:51 justbepunky

Suppose that real domestic output in an economy is 20 units, the quantity of inputs is 10, and the price of each input is $4. Answer the following question on the basis of this information.
Given an increase in input price from $4 to $6, we would expect the aggregate:
a) supply curve to shift to the left.
b) supply curve to shift to the right.
c) demand curve to shift to the left.
d) supply and demand curves to both remain unchanged.

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Suppose that real domestic output in an economy is 20 units, the quantity of inputs is 10, and the p...

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