The economy is depicted in the graph to the right. a. Suppose, there is increased competition in the economy. Which of LRAS the following best describes the result of this event? SRAS A. The short-run aggregate supply curve shifts inward while the long-run aggregate supply curve shifts outward. O B. The short-run aggregate supply curve shifts out Price level while the long-run aggregate supply curve shifts in OC. Both the short and long-run aggregate supply curves shift inward. D. Both the short-run and long-run aggregate supply curves shift outward. 8 12 16 Real GDP ($ trillions)