An oligopoly has ______ sellers in the market.

In the short-run, a perfectly competitive firm can earn normal profits or above normal profit but it cannot incur losses

a. True b. False Indicate whether the statement is true or false

Income tax payments

a. rise during a recession, thus reducing the severity of the recession b. rise during a recession, thus increasing the severity of the recession c. rise during inflationary episodes, thus reducing the severity of the inflation d. fall during inflationary episodes, thus increasing the severity of the inflation e. fall during a recession, thus increasing the severity of the recession