A Nash equilibrium is
A) reached when an oligopoly's market demand and supply intersect.
B) reached when each player chooses the best strategy for himself and for the group.
C) an equilibrium comprising non-dominant strategies only.
D) reached when each player chooses the best strategy for himself, given the other strategies chosen by the other players in the group.
D
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At a certain level of production, the average total cost faced by a monopolist is $6 and the marginal cost faced by the monopolist is $4
If the government decides to regulate the market by setting the price at the efficient price, the good will be sold at a price of: A) $2 per unit. B) $4 per unit. C) $6 per unit. D) $10 per unit.
Which of the following is NOT an advantage of private equity funds?
A) Private companies are not subject to the same regulations as a publicly traded company. B) Managers of private firms are not under the same level of pressure to produce high returns compared to the managers of publicly traded firms. C) Private equity firms can do a better job in controlling the problems created by moral hazard. D) Private equity funds give managers of the companies higher stakes compared to managers in publicly traded companies.
We can calculate how long a country will take to double its real GDP per capita using:
A. its average growth rate. B. its GDP deflator. C. the CPI indexation factor. D. the GDP growth estimator.
College tuition costs have risen faster than prices in general from 1979 to 2009.
Answer the following statement true (T) or false (F)