When a government imposes penalties on both sellers and buyers of an illegal good, the price of the good ________ and the quantity ________

Data indicates that recessions following financial crises ________ recessions which do not follow financial crises

A) are more severe than B) are equally severe as C) are less severe than D) Data does not show any link between the severity of recessions following financial crises.

If we allow free trade in a small nation's industry where there is a domestic monopolist, the monopoly firm:

a. gains even more power. b. sees its profits rise. c. becomes a price taker, is not able to charge a higher price, and behaves like a competitive firm. d. is able to charge a higher price.