What is the conclusion in the prisoners' dilemma?
A) Firms should not enter a legal duopoly.
B) Two prisoners acting in their own best interest harm their joint interest.
C) There is no Nash equilibrium available to the prisoners.
D) Prisoners do not act interdependently.
E) Duopolies almost always reach their best outcome.
B
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If there is an increase in the price of the final good that an industry produces, the labor demand curve in the industry is likely to:
A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.
A failure in coordination between workers and employers is most likely to cause an expansionary gap
a. True b. False Indicate whether the statement is true or false
When the flow of money from the foreign countries to the domestic firms equals the flow of money from the home country to the foreign firms, _____
a. a trade surplus exists b. an equal amount of agricultural and manufactured products are exported c. a trade deficit exists d. an equal amount of goods and services are imported e. the value of net exports is zero
Why is the commercial value of ivory a threat to the elephant, while the commercial value of beef is the cow's guardian?
a. Elephants live in Africa, whereas cows live in the United States. b. Elephants are a common resource. c. Cows are a common resource. d. Cows are a public good.