Game theory applies to problems that arise in
a. perfect competition.
b. monopolies.
c. oligopolies.
d. pure competition.
c
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What are the problems associated with the sale of human organs?
Which of the following describes a demand curve?
a. It is a horizontal line. b. It slopes downward from left to right. c. It slopes downward from right to left. d. It is bow-shaped.
This graph of negative externalities in production shows that the social costs of a negative externality are always ______ the private costs.
a. the inverse of
b. the same as
c. higher than
d. lower than
The stock market crash of 1929 may have been avoided if:
A. large companies had been more objective in their decision making. B. investors had acted rationally. C. investors had acted irrationally. D. large companies had been more emotional in their decision making.