Which of the following must be present in order for the aggregate supply curve to form an upward slope?
A. the lure of higher profits to induce continued production
B. fixed cost of inputs combined with rising prices for outputs
C. rise in aggregate quantity of supplied goods and services
D. constant price level for intermediate goods and services
Answer:B
Which of the following must be present in order for the aggregate supply curve to form an upward slope?
A. the lure of higher profits to induce continued production B. fixed cost of inputs combined with rising prices for outputs C. rise in aggregate quantity of supplied goods and services D. constant price level for intermediate goods and services
Explanation: Type: Multiple Choice