If a technological advance takes place in the computer industry, then the equilibrium price of a computer will ________ and the equilibrium quantity will ________

Other things equal, along the aggregate demand curve, a higher price level is associated with

A) an increase in the quantity of real GDP demanded. B) a decrease in the quantity of real GDP demanded. C) a decrease in the quantity of nominal GDP demanded. D) higher income levels.

Economists use game theory to analyze oligopolies because

A) it is more enjoyable for economists and students to learn by playing games. B) game theory is useful in understanding the actions of firms that are price takers. C) game theory helps us to understand why interactions among firms are crucial in determining profitable business strategies. D) real markets are too complicated to analyze without using games.