What is the Nash equilibrium of the game?
a. Low, Low
b. Low, High
c. High, Low
d. High, High
a
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The United States and other industrialized countries experienced rising inflation accompanied by a recession during the 1970s. This phenomenon was described as (a)
a. hyperinflation. b. stagnation. c. stagflation. d. depression.
The demand curve facing Imelda's Shoe Boutique, a monopolistically competitive firm,
a. is horizontal because Imelda's is small relative to the market as a whole b. is horizontal because Imelda's is large relative to the market as a whole c. slopes downward because Imelda's is small relative to the market as a whole d. slopes downward because Imelda's sells a differentiated product e. slopes downward because Imelda's firm is the entire industry
Which of the following describes a situation in which demand must be elastic? a. Total revenue increases by 15 percent when the price of corn dogs rises by 15 percent
b. Total revenue increases by less than 15 percent when the price of corn dogs rises by 15 percent. c. Total revenue decreases by more than 15 percent when the price of corn dogs rises by 15 percent. d. Total revenue increases by $15 when the price of corn dogs rises by $15. e. Total revenue increases by more than $15 when the price of corn dogs rises by $15.
A firm is experiencing theft problems at its warehouse. A consultant to the firm believes that the dollar loss from theft each week (T) depends on the number of security guards (G) and on the unemployment rate in the county where the warehouse is located (U measured as a percent). In order to test this hypothesis, the consultant estimated the regression equation T = a + bG + cU and obtained the following results: 
Based on the above information, hiring one more guard per week will decrease the losses due to theft at the warehouse by ________ per week.
A. $130 B. $480.92 C. $211 D. $5,150