Game theory enables economists to fully understand and predict the behavior of oligopolistic industries with more than two firms.

In the short run,

a. Some production costs are fixed b. All inputs are fixed c. All inputs are variable d. None of the above

If the quantity demanded of flashlights is 140,000 and the quantity supplied of flashlights is 80,000, then there is an excess supply of 60,000 flashlights

Indicate whether the statement is true or false