Consider the game above. at the mixed strategy equilibrium, the probability that player 2 assigns on Z =

Is "utility" another word for the cost we give up when we consume a good?

What will be an ideal response?

Given the scenario described, if the market price of hammers increased from $6 to $7:

Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. total producer surplus would increase. B. total producer surplus would remain unchanged. C. total producer surplus would decrease. D. total producer surplus cannot be determined with the information given.

Trade restrictions:

A. increase the cost or difficulty of making exchanges across national borders. B. discourage people from fully taking advantage of lower prices in other countries. C. can explain why purchasing power parity doesn't typically hold. D. all of the above statements are true.

Gross domestic product (GDP) is equal to personal consumption expenditures:

A. plus gross private domestic investment, plus government purchases, and plus net exports. B. plus gross private domestic investment, minus government purchases, and plus net exports. C. minus gross private domestic investment, plus government purchases, and plus net exports. D. plus gross private domestic investment, plus government purchases, and minus net exports.