Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. At the mixed-strategy equilibrium in this zero-sum game,
A) each player's expected payoff equals zero.
B) one player earns all possible points and the other player earns zero points.
C) one player's payoff is positive and the other player's payoff is negative.
D) There is never an equilibrium in a zero-sum game.
A
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A shift of the U.S. demand curve for Mexican pesos to the left and a decrease in the peso price per dollar would result from
a. an increase in the U.S. inflation rate relative to the rate in Mexico. b. a change in U.S. consumers' tastes away from Mexican products and toward products made in South Korea, India, and Taiwan. c. U.S. buyers perceiving that domestically - produced products are of a lower quality than products made in Mexico. d. all of the above answers are correct.
If the stock market behaves according to the efficient market hypothesis, then
a. investment in stocks cannot be profitable. b. future changes in stock movements are completely predictable. c. current stock prices reflect all currently available information. d. both b and c. e. all of the above.
If cheese spreads and butter are substitutes, an increase in the price of butter will:
a. shift the demand curve for cheese spreads upward. b. shift the demand curve for cheese spreads downward. c. shift the demand curve for butter upwards. d. shift the demand curve for butter downward.
The human capital model assumes that
a. education is a productive investment that raises total output. b. education does not change potential productivity, but it does save resources by reducing sorting costs for employers. c. the educational system is a very expensive process to legitimize the intergenerational transmission of privileged status. d. such factors as the love of learning should be included in the analysis.