The dominant strategy for player 2 in the following game is:Player 1Player 2??t1t2t3?S14,103,01,3?S20,02,1010,3
A. t3.
B. t1.
C. t1 and t2.
D. None of the answers is correct.
Answer: D
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Lowering the individual income tax rate will increase household disposable income and consumption spending
Indicate whether the statement is true or false
Equilibrium in a repeated one-stage game:
A. requires cooperation. B. does not require cooperation. C. can only be found if the game is finite. D. can only be found if the game is infinite.
The goal of managers is to manage resources in such a way
A) to make them worth as much as they would be in their next best use. B) to make them worth more than they would be in any other use. C) to cover the cost of capital. D) to cover all opportunity costs.
A society could achieve a higher level of production if ________.
A. each person in the society is a jack-of-all trades B. it does not have taxes on imported goods C. each person specializes according to their comparative advantage D. it does not trade with other nations