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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

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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