An increase in the saving rate results in a higher steady state ________

The supply curve of a good or service is the same as

A) the demand curve. B) the marginal benefit curve. C) the marginal cost curve. D) the total surplus curve. E) None of the above answers is correct.

If firms in an oligopolistic industry consistently cut their price to sell more output, what price and output will result?

A) the monopoly price and output B) the competitive price and output C) the monopolistically competitive price and output D) a price lower than the competitive price and less output than the competitive amount E) a price lower than the competitive price and more output than the competitive amount