Assume potential GDP is 7T. If the economy is at a short run equilibrium where real GDP is at 8T then there is an ____ and a labor ___

Under current guidelines, the Federal Trade Commission will likely challenge

A) all mergers if the Herfindahl-Hirschman index (HHI) is 2500 or higher. B) a merger if the HHI is 2500 or higher and the merger increases the HHI by more than 200 points. C) a merger if the HHI is 2500 or higher and the merger increases the HHI by more than 50 points. D) a merger if the HHI is 1500 or higher and the merger increases the HHI by more than 300 points.

The law of diminishing returns means that

a. total output will increase, but at a diminishing rate b. marginal product will increase, but at a diminishing rate c. total cost will increase, but at a diminishing rate d. total revenue will increase, but at an increasing rate e. total output will decrease