Consider the different characteristics of the aggregate demand curve the statements below, determine which curve is being described and place the description into the proper bin. and the short-run aggregate supply curve. For each of Aggregate demand Short-run aggregate supply Answer Bank Real GDP that firms produce at various price levels Upward-sloping ls Upward-sloping Shifts when productivity changes Output of goods and services demanded at different price levels Downward-sloping Shifts when consumner wealth changes Shifts when the cost of oil changes significantly

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)