In the game in Scenario 13.14,
A) R's dominant strategy is Q = 100; C has none.
B) C's dominant strategy is Q = 100; R has none.
C) Q = 100 is a dominant strategy for both R and C.
D) Q = 100 dominates Q = 150 for both firms.
E) the dominant strategy for both players is to choose the same level of output, so long as it is not 150.
D
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In the short run, how will a profit-maximizing monopolist react if its marginal cost suddenly increases? It will
a. lower price to expand revenue possibilities b. restrict output to extract a higher price from customers c. maintain the current price if profit is still positive d. increase plant size to lower marginal cost e. decrease plant size to lower marginal cost
Which of the following is associated with an increase in the average price level?
a. A decrease in the aggregate quantity demanded b. An increase in the aggregate quantity demanded c. A leftward shift of the aggregate demand curve d. A decrease in the aggregate quantity supplied e. Aggregate quantity demanded remains unchanged but the aggregate expenditures curve shifts leftward.
The total cost curve
A. is parallel to the total fixed cost curve. B. is a horizontal line. C. increases at a decreasing rate due to diminishing returns. D. is parallel to and above the total variable cost curve.
In macroeconomics short-run...
What will be an ideal response?