If there is an increase in the price of the final good that an industry produces, the labor demand curve in the industry is likely to:

One criticism of the Bertrand pricing model is that

A) the model is implausible when there is product differentiation. B) when there is an oligopoly with no product differentiation, the model's prediction is inconsistent with reality. C) the model's predicted price is solely a function of demand conditions. D) the model's predicted price is dependent on the number of firms.

If the minimum points on all the possible short-run average total cost curves become successively lower as quantity of output increases, then

a. the firm should try to produce less output b. total fixed costs are constant along the LRATC curve c. there are economies of scale d. the firm is probably having significant management problems e. when output is doubled, total costs are doubled