"Tax cuts, by providing incentives to work, save, and invest, will raise employment and lower the price level." This argument is made by the:

When entry of new firms decreases input prices in an industry, it is a(n)

a. increasing cost industry. b. decreasing cost industry. c. constant cost industry. d. input elastic industry.

Compared to perfect competition, a monopoly will produce ________ output, and charge a ________ price

A) more; higher B) more; lower C) less; higher D) less; lower