A mixed strategy means a player:
A. makes random moves in a simultaneous game.
B. mixes random moves with nonrandom moves.
C. makes random moves in a sequential game.
D. mixes optimal and suboptimal moves to confuse her opponent.
Answer: A
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Which of the following firms is most likely to use cost-plus pricing?
A) A firm that makes many products but has a small research and development budget, the cost of which can be easily assigned to the different product lines. B) A firm that sells one product and has a sizable research and development budget. C) A firm that makes several products and has a sizable research and development budget, the cost of which cannot be easily assigned to each product. D) A firm that makes one product.
Which of the following is an example of screening?
a. a man buys an expensive birthday present for his girlfriend b. an insurance company offers a policy with a high deductible c. the seller of a used motorcycle knows more about its true condition than a prospective buyer d. society supports long prison terms for corporate criminals
An advance in technology which increases labor productivity will shift the:
A. labor demand curve to the left. B. MRP curve to the left. C. MP curve downward. D. labor demand curve to the right.
____ GDP uses current prices while ____ GDP uses prices adjusted for inflation
Fill in the blank(s) with the appropriate word(s).