The mangers of Healthy Snacks and Healthy Bars are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans
B) unpredictable strategies
C) a focal point
D) the Pareto criterion
B) unpredictable strategies
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Refer to the information provided in Figure 13.6 below to answer the question that follows.
Figure 13.6 Refer to Figure 13.6. The profit-maximizing level of output for the Memory Company is ________ high school yearbooks.
A. 0 B. 200 C. 300 D. 350
English common law is particularly effective because ________
A) it was derived from the Napoleonic codes of the period of industrialization B) it is the only system that provides protection for personal property rights C) it is able to evolve over time D) of the diverse character of the British Empire
Which of the following is an example of cyclical unemployment?
A. Marsha was laid off from her job with the airline because the recession reduced demand for airline travel. She expects to get her job back when the economy picks up. B. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. C. George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year.
The expression "gains from trade" refers to:
A) the net benefits a country receives from trade. B) a nation's surplus of exports over imports. C) a nation's balance of trade. D) the benefits a country receives from quota protection.