A small town in West Texas has one gas station. If the price of oil increases, the price of gas that the station charges will most likely
a. increase

The table above gives data for the nation of Mosh. If we graphed these data, we would see that when GDP equals

A) $10 trillion, the AE curve intersects the 45° line. B) $9 trillion, the AE curve intersects the 45° line. C) $6 trillion, the AE curve is below the 45° line. D) $10 trillion, the 45° line is above the AE curve. E) $4 trillion, the AE curve intersects the 45° line.

An industry with a high concentration ratio might still be competitive if

A) there are no close substitutes for its product. B) its barriers to entry are low. C) its production is geographically concentrated. D) it has a high ratio of value added to sales.