John's demand for McDonald's cheeseburgers is an example of:
a. Market Demand
b. Individual Demand
c. Category Demand
d. Unit Demand
b
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In the simplest version of the Cournot model, we assume the firms
A) set price independently and simultaneously. B) set quantities independently and sequentially. C) sell identical products. D) the firms are in a Nash equilibrium.
The outcome of the state of nature affects the payoff to the agent under a
A) fixed-fee contract. B) hire contract. C) contingent contract. D) All of the above.
A union may negotiate limits on workload in order to increase the demand for labor and raise workers' salaries. This practice is known as:
a. featherbedding. b. human capital formation. c. monopsonistic bargaining. d. artificial demand stimulus.
The Sherman Antitrust Act states that if a person can prove that he was damaged by an illegal arrangement to restrain trade, he could sue and recover three times the damages he sustained
a. True b. False Indicate whether the statement is true or false