Refer to Scenario 12.1. What will be the price in the long run if the industry is a Cournot duopoly?

A demand schedule

A) shows that demand is on schedule. B) is a graph showing a relationship between the quantity demanded and the price of a good. C) shows the quantity demanded at one price. D) is a list of the quantities demanded at each different price when all other influences on buying plans remain the same. E) shows how the demand changes when the supply changes.

Babysitting services the oldest son provides his parents

A) does not count as real GDP nor nominal GDP. B) counts as real GDP and nominal GDP. C) counts in both real and nominal GDP only if the son is not paid. D) counts as real GDP but not nominal GDP. E) counts as nominal GDP but not real GDP.