Refer to Figure 3.4. A Nash equilibrium is achieved at which cell(s) in the payoff matrix?
A) only at (North, North)
B) only at (South, South)
C) at both (North, North) and at (South, South)
D) There is no Nash equilibrium.
C
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If manager performance is easily observable then
A) profits will be maximized for the firm. B) the owner can directly reward the manager. C) the manager will attempt to manipulate the reported profit. D) the firm's stock price will go up.
What is the name of the monopolist having a declining long-run average cost throughout the market?
a. Monopolistic competition. b. Monopoly by legal barrier. c. Natural monopoly. d. Contrived monopoly.
In many large retail stores, price markdowns are now determined by computer. The "middle managers" who used to make these decisions personally became __________ unemployed
A) frictionally B) structurally C) naturally D) cyclically
Figure 1A.1Refer to Figure 1A.1. If the hours worked per week are 30, the income per week is:
A. 50. B. 100. C. 150. D. 200.