Question 3. If the price level of what firms produce is rising across an economy, but the costs of production are constant, then: a) the maximum potential GDP will be exceeded. b) higher profits will induce expanded production. c) increase in quantity produced won’t be large. d) a majority of industries will start running into limits.

Question 3. If the price level of what firms produce is rising across an economy, but the costs of production are constant, then:
a) the maximum potential GDP will be exceeded.
b) higher profits will induce expanded production.
c) increase in quantity produced won’t be large.
d) a majority of industries will start running into limits.

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