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Economics
MEDIUM
ENGLISH
Economics
Suppose the price level falls but suppliers only notice that the price of their particular product has fallen Thinking there has been a fall in the relative price of their product they cut back on production, This is a demonstration of the ?
misperceptions theory of the short run aggregate supply curve
Correct answer
B
classical dichotomy theory of the short run aggregate supply curve
Option B
C
sticky price theory of the short run aggregate supply curve
Option C
D
sticky wage theory of the short run aggregate supply curve
Option D
Correct answer: A
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