What is the real dilemma facing the prisoners in the prisoners' dilemma game?
What will be an ideal response?
The real dilemma facing the prisoners in the prisoners' dilemma game is that when each prisoner plays his or her best strategy, the best outcome is not achieved.
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Describe the three types of unemployment
What will be an ideal response?
Rebecca consumes both iced tea and coffee. Iced tea is priced at $1.50 per bottle and coffee at $2.00 per 16-ounce cup. Which of the following marginal utility pairs is consistent with Rebecca's consumer equilibrium at these prices?
a. MU of iced tea = 1; MU of coffee = 1 b. MU of iced tea = 1; MU of coffee = 2 c. MU of iced tea = 2; MU of coffee = 3 d. MU of iced tea = 3; MU of coffee = 4
Which of these has the most elastic demand?
A. Filet Mignon steak B. Bread C. Heart medicine D. Insulin (diabetes medicine)
The demand for labor curve is identical to the:
A. marginal revenue curve. B. marginal resource curve. C. total revenue curve. D. marginal revenue product curve.