Short-run aggregate supply is down sloping because producers supply less at higher prices. is up sloping because producers supply less at higher prices. shows how much Americans are willing and able to consume at each price level. shows the various amounts that producers are willing and able to produce at each price level. is up sloping because consumers demand more at higher prices.

Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.