Suppose the average price of gasoline in the United States rose from $3 per gallon to $4 per gallon. Accompanying the increase in gas prices was a decrease in new automobile sales
Other things equal, if this trend continues, real GDP would likely ________ and the output gap would become ________. A) rise; more negative
B) rise; less negative
C) fall; more negative
D) fall; less negative
C
Economics
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Which of the following average cost functions suggests the presence of a natural monopoly?
A) AC = 2 B) AC = 100/Q + 2 C) TC = 100/Q + 2Q D) All of the above.
Economics
Tacit collusion is more likely to occur when firms' costs ________ closely related and their products ________ close substitutes.
A) are not; are B) are; are not C) are not; are not D) are; are
Economics