Decision makers in oligopolistic firms must devise a strategy. One that yields the highest benefit, regardless of what the other players do is a
A. rule-of-thumb strategy.
B. pricing strategy.
C. dominant strategy.
D. revenue strategy.
Answer: C
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People on a fixed income are adversely affected by inflation.
a. true b. false
The purchasing power of the Zimbabwean dollar:
A. rose because when inflation rises, purchasing power rises. B. fell because there was more money chasing the same goods. C. rose because the money supply rose but real output did not. D. fell because people would not accept the newly-printed money.
Refer to the information provided in Figure 6.12 below to answer the question that follows.
Figure 6.12Refer to Figure 6.12. If Arthur moves from indifference curve 1 to indifference curve 2, then Arthur's
A. prices of the goods increase. B. marginal utility increases. C. total income decreases. D. total utility increases.
The optimal taxation system is a tax system that
A. minimizes the overall excess burden. B. maximizes tax revenues. C. is highly progressive. D. minimizes the total tax burden.