When decisions are guided strictly by short-run gains, this is known as
A) opportunistic behavior.
B) the prisoners' dilemma.
C) tit-for-tat strategy.
D) a positive-sum game.
A
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When an investor buys shares of stock, those stocks must be held for a specified period of time before they can be sold.
Answer the following statement true (T) or false (F)
Which of the following is NOT an example of firms trying to prevent resale?
A) Movie theatres check student ID for students' discounted tickets. B) An aluminum company starts its own wire production firm to sell to the aircraft parts at a higher price. C) Government limits the sale of international edition textbooks in the U.S. market. D) Milk producers sell the milk to processed dairy products producers at a lower price.
Which of the following statements is true of the relationship between average and marginal costs? a. The sum of the marginal cost of a good and its average cost is equal to the total cost of the good. b. The marginal cost of a good is inversely proportional to its average cost. c. The marginal cost of a good is equal to the first derivative of the average cost of the good
d. The average cost of a good is equal to the first derivative of the marginal cost of the good.
Exhibit 3 Demand and cost curves for GeneTech, a monopolist with a patented vaccine
In Exhibit 9-3, how much vaccine should GeneTech produce to maximize its profit?
A. 300 doses per hour. B. 400 doses per hour. C. Between 400 and 500 doses per hour. D. 500 doses per hour.