will an increase in productivity affect the aggregate supply curve and the aggregate demand curve?

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A: The degree to which the quantity desired or supplied responds to the price is known as elasticity.…

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A: Opportunity cost of an action represents the forgone benefits from the next best alternative.

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A:

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A: Revealed preference theory, established by economist Paul Anthony Samuelson in 1938, is a way of…

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A: Excise tax is defined as the tax that is imposed on specific goods or services like, fuel, tobacco…

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A: Given that,  Inputs of the factory from the plant A=4  Inputs of the factory from the plant B=7…

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A: Equilibrium condition Y = C + I Marginal Propensity to consume = 0.25 Consumption = $300 Investment…