If the game continues for infinity, then the new Nash Equilibrium is
a. for one firm to charge a HP forever
b. for your firm charge a LP when the other firm does.
c. for each firm to charge HP so long as the rival does, otherwise charge a LP.
d. for each firm to charge LP until the rival does, and then to charge a HP forever.
c
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When computing percentage changes, using the simple approach results in increases and decreases which are
A) identical. B) symmetric. C) more accurate than using the midpoint method. D) not symmetric.
Explain why Hong Kong has experienced faster economic growth than the United States
What will be an ideal response?
Economists report changes in unemployment in:
A. percentage points, not percentages. B. percentages, not percentage points. C. percentage points or percentages, interchangeably. D. nominal figures; they rarely use percentages or percentage point changes.
The more elastic is the demand for the good, the
a. more elastic will be the demand for the resources used to produce the good b. less elastic will be the demand for the resources used to produce the good c. less effect any given wage rate increase will have on employment d. higher the wage rate increase the union can achieve without causing unemployment e. more elastic will be the supply of resources used to produce this product