Which of the following examples indicates that two oligopolistic firms are involved in a non-cooperative game?
a. The two firms collude to improve their profit-maximizing position.
b. The two firms forge a binding contract to align their pricing strategies.
c. Each firm sets its own prices without consulting its competitor.
d. Each firm talks to its competitor before setting its prices.
c. Each firm sets its own prices without consulting its competitor.
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People often complain bitterly when they learn that CEOs of non-profit companies like the United Way or the Red Cross earn salaries commensurate to what could be earned in by CEOs employed by for-profit companies? Is this complaint valid? Explain
What will be an ideal response?
In the United States in 2014, over 90 percent of people without health insurance were below the age of 35
Indicate whether the statement is true or false
Diminishing marginal rate of substitution implies that the marginal rate of substitution
A. falls as one move to higher (northeast) in the indifference curve map. B. falls as one travels down (eastward) on an indifference curve. C. rises as one travels down (eastward) on an indifference curve. D. stays the same as one travels down (eastward) on a typical indifference curve.
Briefly discuss two factors that have increased government expenditures in recent decades.
What will be an ideal response?