In the Cournot model, each firm's ________ shows the firm's optimal, profit-maximizing output given its rival's output.
A. dominant strategy
B. collusive response
C. price leadership decision
D. reaction function
Answer: D
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Suppose that in a market for used cars, there are good used cars and bad used cars (lemons). Consumers are willing to pay as much as $6,000 for a good used car but only $1,000 for a lemon
Sellers of good used cars value their cars at $5,000 each and sellers of lemons value their cars at $800 each. Buyers cannot tell if a used car is reliable or is a lemon. Based on this information, what is the likely outcome in the market for used cars? A) Most used cars offered for sale will be lemons. B) Both good used cars and lemons will sell for $4,500 each. C) Only lemons will sell, for $800 each. D) Both good used cars and lemons will sell for $1,000 each.
Refer to the information above. What is the highest value of gross investment over these periods?
A) 140. B) 106.75. C) 89.25. D) 192.5
By law, all states must have a state income tax
a. True b. False Indicate whether the statement is true or false
The amount of currency per person in the United States is about
a. $110. b. $300. c. $2,450. d. $4,490.