In cardinal utility analysis
A) numbers can be assigned to utility.
B) it is recognized that numbers can not be assigned to utility.
C) the concept of marginal utility exists while in ordinal utility analysis marginal utility does not exist.
D) marginal utility always increases as more of a good is consumed.
Answer: A
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Refer to Game Matrix III. Which of the following is a property of this game?
Game Matrix III
The following questions refer to the game matrix below. Each firm has a choice of advertising, Ads, or not advertising, No ad. The profits each gets depend upon which it chooses.
a. Both firms have dominant strategies.
b. There is no pure strategy Nash equilibrium.
c. There is a Nash equilibrium and it is Pareto optimal.
d. There is a Nash equilibrium and it is not Pareto optimal.
The conditions in which vertical relationships can enhance a firm's ability to price discriminate include
a. the manufacturer's product is of value to just one type of customer b. the costs of arbitraging the price differences across markets is large c. the manufacturer acquires the distributer in the higher priced market d. lack of competition provide the manufacturer with the ability to price above marginal cost
A graph illustrating the relationship between the quantity of money demanded and the interest rate would have a slope that is:
a. positive. b. negative. c. horizontal. d. vertical.
The growth rate of output per person in the economy is called
A. factor growth. B. labor productivity growth. C. per-capita output growth. D. output growth.