Refer to the following game.Firm AFirm B??Low PriceHigh Price?Low Price(10,9)(15,8)?High Price(-10,7)(11,11)If this one-shot game is repeated three times, the Nash equilibrium payoffs for firms A and B will be ________ each period.
A. (15, 8)
B. (?10, 7)
C. (10, 9)
D. (11, 11)
Answer: C
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Which of the following statements about concentration ratios is correct?
A) A high concentration ratio indicates that the industry is a monopoly. B) A high concentration ratio indicates that the industry is monopolistically competitive. C) A high concentration ratio suggests that the industry is characterized by strategic independence. D) A high concentration ratio suggests that the industry is characterized by strategic dependence.
Which of the following statements describes a supply curve?
a. A supply curve is a graphic illustration of the relationship between supply, shown on the vertical axis, and demand, shown on the horizontal axis. b. A supply curve is a graphic illustration of the relationship between price, shown on the horizontal axis, and quantity, shown on the vertical axis. c. A supply curve shows the same information as a supply schedule. d. A supply curve shows the same information as a demand schedule.
If a country has a trade surplus then
a. S > I and Y > C + I + G. b. S > I and Y < C + I + G. c. S < I and Y > C + I + G. d. S < I and Y < C + I + G.
What can a nation do to increase its economic growth? Why is economic growth among the major national economic goals of all countries?
What will be an ideal response?