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Author Question: According to the Lucas supply function, if a firm mistakenly perceives that all prices are going up ... (Read 84 times)

WhattoUnderstand

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on: Apr 19, 2019

Question 1

With the Lucas supply function, a price surprise means


◦ actual price is greater than expected price.
◦ actual price is less than expected price.
◦ actual price equals expected price.
◦ actual price is either greater than or lower than expected price.

Question 2

According to the Lucas supply function, if a firm mistakenly perceives that all prices are going up because its own output price is going up, it will


◦ decrease its production.
◦ increase its production.
◦ keep its production level constant.
◦ increase expectations regarding its own output price.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by WhattoUnderstand on Apr 19, 2019

lgoldst9

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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WhattoUnderstand

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

Joy Chen

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Reply 3 on: Yesterday
Excellent

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