The mangers of Happy Campers and Camp with Us are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans
B) the Pareto criterion
C) a focal point
D) unpredictable strategies
D) unpredictable strategies
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If the price level increases, there is ________ the AD curve and the quantity of real GDP demanded ________
A) a movement upward along; increases B) a leftward shift in; decreases C) a movement downward along; increases D) no change in; does not change E) a movement upward along; decreases
Perfectly competitive firms are known for being “price makers.”
Answer the following statement true (T) or false (F)
The game in the figure shown is a version of:
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. the prisoner's dilemma.
B. the first-mover advantage.
C. a sequential game.
D. a repeated game.
Which of the following is an accurate comparison between personal income (PI) and disposable personal income (DPI)?
a. DPI is more than PI. b. DPI is less than PI. c. DPI is equal to PI. d. DPI is more than PI at times and less than PI at times.