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Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract. The price level in the economy has increased. Answer the following
Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract. The price level in the economy has increased. Answer the following set of questions based on the short run. a. If the price level increases, input prices will multiple choice 1 increase. decrease. remain constant. b. If the price level increases, output prices will multiple choice 2 remain constant. increase. decrease. c. In the short run, the firm will experience multiple choice 3 an increase in economic losses. a decrease in economic profits. an increase in economic profits
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