In the above figure, the short-run equilibrium will eventually adjust to a long-run equilibrium with a
A) lower price level and smaller real GDP
B) higher price level and larger real GDP.
C) higher price level and smaller real GDP.
D) lower price level and larger real GDP.
C
Economics
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Because an oligopoly includes a small number of firms, there is the possibility of ________ rather than ________, which can ________ profits for each of the firms.
A) competition; cooperation; increase B) cooperation; competition; increase C) competition; cooperation; decrease D) cooperation; competition; decrease
Economics