The chair of the Board of Governors regularly testifies to Congress about Fed policy
a. True
b. False
Indicate whether the statement is true or false
True
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One part of a perfectly competitive trout farm's supply curve is its
A) marginal cost curve below the shutdown point. B) entire marginal cost curve. C) marginal cost curve above the shutdown point. D) average variable cost curve above the shutdown point. E) marginal revenue curve above the demand curve.
What is meant by the term "government-imposed barrier to entry"? Why would a government be willing to impose barriers to entering an industry?
What will be an ideal response?
If Joe and Sarah are faced with the game in the figure shown, we can see that:
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.
A. Joe has a dominant strategy, but Sarah does not.
B. Sarah has a dominant strategy, but Joe does not.
C. neither student has a dominant strategy.
D. both students have a dominant strategy.
A retailer cannot sell Campbell Soup if it also sells other brands of soup. This is an example of:
a. resale price maintenance. b. price discrimination. c. a tying agreement. d. exclusive dealing.