Multiple Choice
Which of the following explains the effect of prices on profits in the short-run?
A) The direct relationship between aggregate quantity demanded and national output.
B) The direct relationship between aggregate quantity supplied and the price level.
C) The inverse relationship between aggregate quantity demanded and national output.
D) The inverse relationship between aggregate quantity supplied and profits.
E) The inverse relationship between aggregate quantity supplied and national output.
Correct Answer:
Verified
Correct Answer:
Verified
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