Game theory is necessary to understand which kinds of markets? (i) perfectly competitive (ii) monopolistically competitive (iii) oligopoly (iv) duopoly (v) monopoly
a. (i) and (ii) only
b. (iii), (iv), and (v) only
c. (iii) and (iv) only
d. (i), (ii), (iii), (iv), and (v)
c
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The market demand curve in perfect competition is found by
A) horizontally summing the supply curves of the individual firms in the industry. B) horizontally summing the demand curves of the individual consumers. C) utility maximizing behavior of the "representative consumer." D) the interaction of supply and demand at the individual firm and consumer levels.
Which of the following investments is most ideal for a lender?
a. An investment that yields a nominal interest of 6 percent per year in a country that faces an inflation of 2 percent per year b. An investment that yields a nominal interest of 4 percent per year in a country that faces an inflation of 2 percent per year c. An investment that yields a nominal interest of 200 percent per year in a country that faces an inflation of 200 percent each year d. An investment that yields a nominal interest of 50 percent per year in a country that faces an inflation of 70 percent each year
Refer to Figure 12-10. The total cost at the profit-maximizing output level equals
A) $4,800. B) $3,300. C) $2,500. D) $1,800.
Research indicates that which one of the following factors likely gave rise to increased obesity in the U.S.?
(a) Advancements in modern cooking technology (b) Increased consumption of restaurant and fatty foods (c) A shift from exercise in leisure to labor (d) All of the above