A "sequential game" is
A) another term for a repeated game.
B) another term for a cooperative game.
C) the term for a game in which individuals receive their payoffs at different times.
D) the term for a game in which individuals do not commit to strategy choices at the same time.
E) the term for a game in which each outcome occurs, one after the other, as the game is repeated over time.
D
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Suppose the exchange rate of the U.S. dollar was 1.00 euro = $0.50 on Thursday, and on Friday the exchange rate was $1.00 = 2.10 euros. Which of the following best explains what has happened between Thursday and Friday?
A) The U.S. dollar appreciated against the euro. B) The euro appreciated against the U.S. dollar. C) The U.S. dollar depreciated against the euro. D) Both answers B and C are correct.
Which is not an example of price discriminating by separating markets?
a. offering discounts for students with IDs. b. charging lower prices for airline tickets with a Saturday stay-over. c. selling 13 bagels (a "baker's dozen") for the price of 12. d. selling snowblowers at a discount in relatively warmer climates.
In international trade the concept of 'relative opportunity cost' refers to
A) absolute advantage. B) comparative advantage. C) technical costs. D) institutional advantage.
Exhibit 5-5 Demand curve for computers
?
In Exhibit 5-5, the total revenue at point B on the demand curve equals:
A. OA. B. CB. C. AB. D. OABC.