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Economic reasoining and appropriate diagram

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Reference no: EM132550904

Explain the following statements with economic reasoining and appropriate diagram(s):

a. Every point on a downward sloping AD curve is a point of equilibrium between AE and Y.

b. A short-run aggregate supply (AS) curve is upward sloping but flatter at the lower end and steeper at the upper end

Reference no: EM132550904

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