Refer to the following game.Player 1Player 2??t1t2t3?S14,103,01,3?S20,02,1010,3Which of the following strategies constitutes a Nash equilibrium?
A. S2, t2
B. S1, t2
C. S1, t1
D. S2, t3
Answer: C
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Studies of professional sports teams suggest that, in sports, racial discrimination in previous decades was
a. rare. b. common and that owners of teams are largely to blame. c. common and that customers (fans) are largely to blame. d. None of the above is correct; there are no reliable studies of discrimination in sports due to the difficulties inherent in measuring athletes' productivity.
Economic models are only applicable to free-market countries
A) False. Economic models are applicable wherever there is scarcity. B) True. Economic models are applicable only when private citizens are free to make their own decisions. C) False. Economic models are applicable in all countries with more than one million people, regardless of political structure. D) True. Economic models are only applicable when government is small relative to the rest of the economy.
If the marginal revenue product of land is less than its price, a firm should
A. increase the price it is willing to pay for land. B. use more land. C. use less land. D. try to increase the productivity of land.
Refer to the figure below. During high-peak times, what price-quantity combination should the firm charge to maximize profit? 
A. P4 and Q3 B. P2 and Q3 C. P1 and Q2 D. P1 and Q3