Which of the following is not a characteristic of a prisoner's dilemma game?
A) Defecting is a dominant strategy for each player.
B) Each player has two strategies: cooperate or defect.
C) There is a single Nash equilibrium.
D) The Nash equilibrium is the best outcome for each individual and for the grou
D
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The manager of a large luxury hotel chain is currently negotiating a four year contract with a linens supplier. The linens company will supply fresh laundered bedding and towels to the hotel over a four year period; however, the hotel chain can ends its contract with the linens company at the end of the first, second, or third years if the linens company does not supply quality linens. The
manager of the hotel chain should be most concerned about the quality of linens in which year? A) the first year B) the second year C) the fourth year D) the third year
An increase in government spending leads to a(n)
a. downward shift of the aggregate expenditure line and a leftward shift of the money demand curve b. upward shift of the aggregate expenditure line and a rightward shift of the money demand curve c. downward shift of the aggregate expenditure line and a rightward shift of the money demand curve d. upward shift of the aggregate expenditure line and a leftward shift of the money demand curve e. upward shift of the aggregate expenditure line but no shift of the money demand curve
Marginal social cost is made up of marginal private cost and external cost.
Answer the following statement true (T) or false (F)
A pure monopolist sells output for $4.00 per unit at the current level of production. At this level of output, the marginal cost is $3.00, average variable costs are $3.75, and average total costs are $4.25. The marginal revenue is $3.00. What is the
short-run condition for the monopolist and what output changes would you recommend? What will be an ideal response?