Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times If Kyle changes from a pure strategy of "shoot 2" and decides to "shoot 1" in two of the games, Stan would be best off if he
A) stuck with a pure strategy of "shoot 2."
B) switched to a pure strategy of "shoot 1."
C) stuck with a mixed strategy of "shoot 1" 50% of the time and "shoot 2" 50% of the time.
D) switched to a mixed strategy of "shoot 1" more than 50% of the time and "shoot 2" less than 50% of the time.
A
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Refer to the figure above. If a per-unit tax of $1.50 is imposed on the sale of Good X, what is the size of the deadweight loss due to taxation?
A) $5 million B) $7.5 million C) $1.5 million D) $2 million
Legislation setting high minimum wage rates benefits
A) many people receiving wages far above the minimum by reducing competition from unskilled workers. B) no group in the economy, but is nonetheless widely supported out of ignorance. C) only people who were previously receiving less than the legal minimum. D) primarily teenagers and unskilled workers. E) the whole economy by pushing up average income.
Describe the scale of redistribution in the United States
What will be an ideal response?
To a Marxist, income inequality derives from
a. purely random events b. incompetent government policy c. unequal education d. unequal distribution of property e. unequal abilities of individuals