Explain how games with more than three players are represented graphically
What will be an ideal response?
In games with more than three players, the number of players are represented on the horizontal axis of the graph, and the payoffs are represented on both the left-side and right-side vertical axes.
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Crowding out refers to a decline in ________ as a result of an increase in ________
A) government purchases; private expenditures B) government purchases; tax rates C) private expenditures; government purchases D) tax revenues; unemployment
The demand curve for a factor is that part of the MRP where marginal product is
a. rising. b. falling. c. positive. d. negative.
Suppose that real output is fixed and equal to 400, while velocity is fixed and equal to 5. Then, if the money supply is equal to 200, the price level will be:
A. 10. B. 7.5. C. 2.5. D. 5.
If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $99, its marginal revenue for the last unit sold is
A) $1. B) $10. C) $109. D) $89.