If the businesses last forever, then the Nash Equilibrium is
a. for one firm to charge a HP forever
b. for your firm charge a LP when the other firm does
c. for each firm to charge HP until the rival does, and then to charge a LP forever.
d. for each firm to charge LP until the rival does, and then to charge a HP forever.
c
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What is the antithesis of the rule of law?
A) Arbitrary governance B) Governance according to the will of whoever is in charge C) Both of the above. D) None of the above.
What is the difference between fiscal policy and monetary policy?
What will be an ideal response?
The informal sector is characterized by
a. firms that don't pay their taxes b. firms from other countries that are not subject to local laws c. firms producing illegal goods d. firms that are small and often able to avoid many government regulations e. all of the above
The U.S. has an absolute advantage in the production of
A. beer.
B. pizza.
C. both beer and pizza.
D. neither beer nor pizza.