Since aggregate supply is the total supply of all goods and services in the economy, the aggregate supply curve is the sum of the individual supply curves for each of these goods and services.

Question

Quizplus · Accepted Answer

The aggregate supply curve represents the total quantity of goods and services that firms are willing and able to produce at different price levels, but it is not simply the sum of individual supply curves because it also considers the interactions and dynamics of the entire economy, including changes in productivity, technology, and the costs of inputs.

Since Aggregate Supply Is the Total Supply of All Goods