The difference between cooperative and non-cooperative games is
a. cooperative games allow side payments to support collusion
b. non-cooperative games encourage communication of sensitive information between arms-length competitors
c. cooperative games involve randomized behavior
d. cooperative games necessitate an explicit order of play
e. inconsequential except when players have contractual relationships
a
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Why might luxury-goods retailers limit purchases on a good by consumers "due to popular demand"?
A) Because they are worried about running out of supply, leaving some of their customers unhappy that they can't buy the good. B) Because they are trying to use scarcity as a way to improve the brand image of the good. C) Because they are limiting the possibility of arbitrage, where consumers buy in a low price area and resell in a higher price area. D) Because they are worried that they'll run out of the good during the all-important holiday season.
The marginal product of the fourth worker is
A) 150 units of output. B) 24 units of output. C) negative. D) 36 units of output.
The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X
a. percentage, unit b. percentage, percent c. unit, unit d. unit, percent e. none of the above
When the value of our goods exports is less than the value of our goods imports,
A. foreign currency reserves must fall. B. the value of the dollar must fall. C. there will be domestic unemployment. D. there will be an unfavorable balance of trade.