According to game theorists, a cartel of several firms is an example of a(n)
A) zero-sum game.
B) uncooperative game.
C) cooperative game.
D) noncooperative game.
C
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Which of the following is not a feature of the steady state in Solow's exogenous growth model?
A) The capital/output ratio is steady. B) Capital grows continuously. C) Consumption per worker is steady. D) Total saving is steady.
New classical macroeconomists believe that
a. markets clear each and every period. b. the labor market does not clear. c. individuals are locked into money wage constraints. d. individuals face market constraints in their ability to act in their own self-interest. e. none of the above.
Saving is disposable personal income not spent on consumption
a. True b. False Indicate whether the statement is true or false
Exhibit 7-4 Marginal cost and revenue for a firm UnitQuantity Marginal Cost Marginal Revenue 12 $ 5 $9 13 6 9 14 7 9 15 8 9 16 9 9 17 10 9 In Exhibit 7-4, what is this firm's profit-maximizing rate of output?
A. 13. B. 14. C. 15. D. 16.