A reaction function is
A) companies colluding in order to make higher than competitive rates of return.
B) the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry.
C) a game in which firms will not negotiate in any way.
D) when plans made by firms are known as game strategies.
B
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Everything else held constant, an increase in the time deposit ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Which of the following is the correct expression for short-run aggregate supply in the new classical view?
A) YP = Y + a(P - ) B) Y = YP + a(P - ) C) YP = Y + a(P + ) D) Y = YP + a(P + )
If Debbye is willing to pay $50 for a pair of shoes but only has to pay $20 because the shoes are on sale, then her consumer surplus on that pair of shoes is
a. $50 b. $20 c. $70 d. $30 e. $25
Which of the following is most likely to be a fixed cost for a business?
A. expenditures on low-skill labor. B. shipping charges for the delivery of products. C. materials costs. D. property taxes on the firm's buildings.