An optimal choice can be characterized as a decision made by someone who is satisficing.
Answer the following statement true (T) or false (F)
False
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What is meant by the first-mover advantage? How does commitment matter in a game with a first-mover advantage? a. Some games have a first-mover advantage and others do not. Suppose you were playing rock-paper-scissors as an extensive form game
First you choose rock, or paper, or scissors and then your opponent makes a choice. Is there a first-mover advantage in this game? b. Two firms are thinking of entering a new market. If only one enters, it will make high profits. If two firms enter, then both will suffer losses. Suppose that the game is played sequentially, with Firm 1 deciding first. Does this game have a first-mover advantage?
If exports rise and imports fall, then:
a. GDP will increase. b. GDP will decrease. c. GDP may remain unchanged. d. net exports will fall. e. transfer will rise.
Regulations to reduce pollution
a. cause pollution levels to drop below the regulated amount. b. are typically a more costly solution to society than a corrective tax. c. allow firms with the lowest cost to reduce pollution by more than those with the highest costs. d. are a better solution for the environment than a corrective tax.
Regression discontinuity is a method in which two groups are compared based on whether they were part of an initially specified random sample subjected to an experimental protocol.
Answer the following statement true (T) or false (F)