Which industry was first covered by a free trade agreement between Canada and the United States?

Wage and price stickiness

A. creates a surplus or a shortage of real GDP. B. give rise to a vertical long-run aggregate supply curve. C. give rise to a vertical short-run aggregate supply curve. D. prevents the economy from producing its potential level of real GDP.

Two identical firms that share a market and produce a homogeneous good will find the Bertrand Oligopoly LEAST attractive because

A) Cartels generate the highest joint profit. B) a Cournot Oligopoly will generate more profit than a Bertrand Oligopoly. C) they want to avoid a price war that leads to profit erosion and P = MC. D) All of the above.