Game theory is the tool that economists use to analyze strategic behavior, which is behavior that takes into account the ________ behavior of others and the mutual recognition of ________
A) unexpected; interdependence
B) unexpected; independence
C) expected; interdependence
D) expected; independence
E) random; profit
C
You might also like to view...
A technique for implementing industrial policies that probably worsened the effects of the 1997 crisis was
A) directed credit. B) protection from imports. C) export subsidies. D) research subsidies. E) quotas.
Which of the following is TRUE?
a. To reduce cannibalization among products, reposition a product so that it does not directly compete with the other b. After acquiring a substitute product, lower prices on both the products c. After acquiring a complementary product, raise prices on both the products d. None of the above
First movers
A) are usually firms with large market share. B) are the first to bring out a new product. C) usually copy successful products. D) are mainly found in the computer industry. E) have memorable trade names.
The supply of loanable funds reflects the willingness of
a. businesses to borrow loanable funds for new capital at various interest rates b. consumers to spend loanable funds for items, such as new cars, at various interest rates c. savers to provide loanable funds to the loanable funds market at various interest rates d. firms to provide the funds, which is why production occurs in the first place e. people to invest in business enterprise, if the price is right (meaning if the interest rate is right)