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14 November, 04:34

The aggregate supply curve represents a relationship between

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  1. 14 November, 05:03
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    total supply firms are by firm and price.

    Explanation:

    Aggregate supply is the term that describes the total value of all goods and services that firms in the economy are willing to sell in the market at a given price, or different prices. The aggregate supply curve shows the total quantity that firms will supply at different prices. In other words, the aggregate supply curve shows the relationship between total supply firms are by firm and price.

    The aggregate supply curve is upward sloping. While a supply curve shows the relationship between price and quantity of a particular product or firm, the aggregate supply curve illustrates the relationship between quantity and price for the entire economy.
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