The two types of games include
A) fast and slow.
B) sequential and simultaneous.
C) price and quantity.
D) real and nominal.
B
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How is a monopolistically competitive market similar to a perfectly competitive market? Do monopolistically competitive markets and monopolies share any common features?
What will be an ideal response?
One unintended consequence of the various attempts to restrict farm acreage was that
A) output generally decreased, price increased, and farmers earned higher incomes. B) individual farmers intensified their efforts to harvest crops from the land still under cultivation. C) farmers' incomes remained constant in real terms. D) the land that was set aside became less productive.
Describe what happens to prices, quantities demanded, and quantities supplied when equilibrium is disturbed
What will be an ideal response?
Which of the following is a theoretically possible value for the 80/20 ratio?
A. -1 B. 1,000 C. 0.5 D. 0