Suppose that Abigail and Betsy are the only two producers in a market, and Abigail is producing 30 units and Betsy is producing 40 units. When Abigail is producing 30 units, Betsy maximizes her profit by producing 50 units, and when Betsy produces 40 units, Abigail maximizes her profit by producing 40 units. When Abigail produces 30 units and Betsy produces 40 units.

Use letters in alphabetical order to select options

A They are in a Nash equilibrium, but they cannot be colluding.
B They are not in a Nash equilibrium, and they cannot be colluding.
C They are in a Nash equilibrium, and they could be colluding.
D They could be colluding, but they are not in a Nash equilibrium.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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