Which of the following by itself is consistent with the directions that the price level and real GDP changed at the onset of the Great Depression?

Refer to Figure 7-5. The efficient quantity of medical services is

A) 400. B) 800. C) 1,200. D) > 1,200.

Two identical firms that share a market and produce a homogenous good will find the Bertrand Oligopoly LEAST attractive because

A) Cartels generate the highest joint profit. B) a Cournot Oligopoly will generate more profit than a Bertrand Oligopoly. C) they want to avoid a price war that leads to profit erosion and P = MC. D) All of the above.