Refer to the below table. Which of the following is true?
Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy.
A. The international strategy is the dominant strategy for both firms
B. The national strategy is the dominant strategy for both firms
C. The international strategy is the dominant strategy for firm A and the national strategy is the dominant strategy for firm B
D. The national strategy is the dominant strategy for firm A and the international strategy is the dominant strategy for firm B
B. The national strategy is the dominant strategy for both firms
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What will be an ideal response?
A key assumption to ensure that domestic returns and foreign returns are in equilibrium is:
a. there are perfectly flexible prices. b. the quantity of money is fixed. c. there are no capital controls preventing the movement of capital. d. trade is not subject to any restrictions.
Which of the following is NOT a characteristic of rent controls?
A. Greater availability of apartments B. Lower expenditures on maintenance C. Fewer newly built apartment buildings D. Excess demand for apartments
The purpose of antitrust policy is to encourage competition in an industry.
Answer the following statement true (T) or false (F)