The competition faced by firms in an oligopoly with differentiated products is higher than that faced by firm(s) in ________

What are the three types of gains from international transactions between the residents of different countries?

What will be an ideal response?

Do economists analyze people's thought processes or do they look at what people actually do?

A) Economists focus only on people's thought processes. B) Economists focus on what people do, not their thought processes. C) An economist's focus is about half-and-half between actions and thought processes. D) Macroeconomists focus on thought processes while microeconomists focus on actions.