A sequential game can be used to analyze whether a retail firm should build a large store or a small store in a city, when the correct choice depends on whether a competing firm will build a new store in the same city. Which of the following is used to analyze this type of decision?
A) an either-or graph
B) a decision tree
C) a decision matrix
D) a sequential matrix
B
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The incidence of a payroll tax is borne by both employers and employees.
Answer the following statement true (T) or false (F)
A necessary assumption behind the invisible hand theorem is that:
A. market forces produce inefficient outcomes. B. market forces are determined by cultural norms. C. people behave rationally. D. the price mechanism is not constrained by political or social forces.
Allocative efficiency best explains ________, and productive efficiency best explains ________
A) how something will be produced; when something will be produced B) when something will be produced; why something will be produced C) why something will be produced; what will be produced D) what will be produced; how something will be produced
Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. This farmer will continue to produce at any price above ________, but will not produce below that price.
A. $15 B. $11 C. $9 D. $7