|
Title: The aggregate supply curve cannot be the sum of the supply curves of all the individual firms in the ... Post by: billyhilly on May 19, 2020 The aggregate supply curve cannot be the sum of the supply curves of all the individual firms in the economy because
▸ the outputs of some firms are the inputs of other firms. ▸ some firms actually set prices instead of just responding to processes determined in the market. ▸ it is unrealistic to believe that costs are constant for individual firms if the overall price level is increasing. ▸ all of the above. Title: The aggregate supply curve cannot be the sum of the supply curves of all the individual firms in the ... Post by: ShaeTime3 on May 19, 2020 Content hidden
|