The prisoners' dilemma is
A) an example of a duopoly game.
B) a theory about why firms break the law.
C) competition that can occur among firms in monopolistic competition.
D) an example of the monopolist charging high prices.
E) an example of a game that does not have a Nash equilibrium.
A
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As output increases, the ATC
a. increases. b. decreases. c. remains constant. d. falls and then rises.
Refer to Table 9.1. Use the rule of thumb to determine in which quarter Gigantica first entered a recession during the years 2010-2012
A) 2010 Q4. B) 2011 Q2. C) 2011 Q4 D) Gigantica did not enter a recession from the years 2010-2012.
The demand for microwaves in a certain country is given by: D = 8,000 - 30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, and the government imposes a tariff of $30 per microwave, then the domestic quantity demanded will be ________ microwaves.
A. 5,600 B. 4,000 C. 5,000 D. 4,500
Suppose that the demand for movie tickets is price inelastic for the range of prices between $10 and $12. If a movie theater raises the price of tickets from $10 to $12, what will happen to total revenues?
A) Total revenues will decrease. B) Total revenues will increase. C) Total revenues will not change. D) Total revenues will have no relationship to the quantity of ties demanded.