A successful tit-for-tat strategy leads to
a. explicit collusion
b. a cartel
c. a duopoly
d. tacit collusion
e. market disequilibrium
D
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Suppose that for the past two months, you have studied economics one hour a day. You now decide to study economics two hours a day. For the past two months
A) your marginal cost of studying economics for an hour must have exceeded its marginal benefit. B) the marginal cost of studying economics must have fallen. C) your marginal benefit from studying economics an hour must have been greater than its marginal cost. D) the opportunity cost of studying economics must have risen.
A country with plenty of capital and little land may have a comparative advantage in:
A. land-intensive activities. B. capital-intensive activities. C. labor-intensive activities. D. technology-intensive activities.
Does a tax on buyers affect the demand curve?
A. Yes, it shifts down by the amount of the tax. B. Yes, it shifts up by the amount of the tax. C. No, there is change in the quantity demanded, but the demand curve does not move. D. Yes, it shifts to the left by the amount of the tax.
Given the values in the table above, equilibrium output Y = ________ when the real interest rate r = 4
A) 26.6 B) 0.65 C) 14.6 D) 5.65 E) none of the above