Based on price setting behavior, which of the following will cause a reduction in the price level?

The amount of real GDP produced at any one time depends on

i. a fixed amount of capital. ii. a fixed level of technology. iii. decisions people make about leisure versus working. A) ii only B) ii and iii C) i and ii D) i only E) i, ii and iii

In a goods market, sellers have higher bargaining power if:

A) the good being traded has close substitutes. B) there are several firms in the industry. C) there are just a few firms in the industry. D) there are just a few buyers in the market.