Refer to Scenario 9.1. The dominant strategy for Sheb is to place ________ sheep on the commons
A) 4
B) 5
C) Sheb's dominant strategy depends on how man sheep Monty places on the commons.
D) Sheb has no dominant strategy.
B
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Tax cuts and increased income transfers have the same fiscal stimulus, dollar for dollar.
Answer the following statement true (T) or false (F)
What is the most likely reason that milk sold in convenience stores is more expensive than milk sold in grocery stores?
A. Convenience stores sell milk in smaller packages, so the per-gallon packaging costs are higher. B. Grocery stores buy in bulk, while convenience stores buy milk in smaller quantities. C. People who buy milk at convenience stores tend to have a less elastic demand for milk. D. Convenience store owners are greedier than grocery store owners.
Figure 17.2 depicts a firm's marginal revenue product curve. If the marginal product of the second worker is 10 units of output, what is the price of output?
A. $3 B. $4 C. $5 D. $6
Tax incidence refers to
A) determining who sends the taxes into the government. B) the tendency of some people to avoid paying taxes at all. C) the distribution of tax burdens among groups, or who really pays a tax. D) determining the marginal tax rate applied to any increase in income.