True or false: based on the fact that both felix and janet increased production from the initial cartel quantity, you know that the output effect was larger than the price effect at that quantity.

note that felix and janet started by behaving cooperatively. however, once felix decided to cheat, janet decided to cheat as well. in other words, janet's output decisions are based on felix's actions.

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.