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The misperceptions theory of the short-run aggregate supply curve says that if the price level is higher than people expected, then some firms believe that

The misperceptions theory of the short-run aggregate supply curve says that if the price level is higher than people expected, then some firms believe that the relative price of what they produce has decreased, so they increase production. decreased, so they decrease production. increased, so they increase production increased, so they decrease nmduction

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