A long term partnership between companies to jointly develop produce or sell products

The owner of a local restaurant comes to you for help. He needs to know whether or not he should increase the price of the meals he serves. To answer his question, what information would you like to know?

What will be an ideal response?

In economists' models, technological advance occurs in:

A. the very long run. B. either the short run, long run, or very long run. C. manufacturing industries but not in service industries. D. pure competition but not in monopolistic competition, oligopoly, and pure monopoly.