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P. AS, P3 Price Level P. AD, 100 200 300 400 Real Output (billions of dollars per year) Macro equilibrium is established at which price

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P. AS, P3 Price Level P. AD, 100 200 300 400 Real Output (billions of dollars per year) Macro equilibrium is established at which price level, given AD1 and AS1 in Figure 8.3? O P1 . O P2 . O P3 . O P4

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