In tit-for-tat, if your partner ________ in your first interaction, then you will ________ in your next interaction.

The expression "increase in quantity supplied" is illustrated graphically as a

A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) movement up along the supply curve. D) movement down along the supply curve.

Excess capacity is

a. an example of the inefficiencies of monopolistically competitive markets. b. a short-run problem but not a long-run problem. c. a characteristic of rising average total cost curves. d. Both a and b are correct.