A game in which the players neither negotiate nor coordinate in any way is a
A. negative-sum game.
B. cooperative game.
C. zero-sum game.
D. noncooperative game.
Answer: D
You might also like to view...
Draw an aggregate supply and aggregate demand graph which shows the economy producing an output which exceeds potential output in the short run, and the adjustment that will occur as the economy adjusts to long-run equilibrium
What will be an ideal response?
Economists use the concept of ________ to measure how one economic variable, such as quantity, responds to a change in another economic variable, such as price
A) elasticity B) slope C) relativity D) efficiency
The current price floor in the agricultural lettuce market makes it such that the price of lettuce is 25% higher than the equilibrium price and that 100 heads of lettuce are demanded
Assuming that the elasticity of demand for lettuce is -0.50, how much would revenue (P ? Q) change for the lettuce company if the government removed the current price floor? A) Revenue will increase by $15.60. B) Revenue will decrease by $15.60. C) Revenue will increase by $40.60. D) Revenue will increase by $ 9.40.
The marginal propensity to consume (MPC) is computed as the change in consumption divided by the change in:
a. GDP. b. disposable personal income. c. saving. d. none of these.