When airlines post prices on an electronic bulletin board at 8:00 a.m. each morning, the decision-makers are engaged in
a. a single play game
b. a sequential game
c. an entry decision
d. a simultaneous game
e. an infinite repetition game
d
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According to the Manning study, people with $1,000-deductible health care coverage had:
A. worse health outcome than those with first-dollar coverage. B. the same health outcomes as those with first-dollar coverage. C. better health outcomes than those with first-dollar coverage. D. worse health outcomes than those with no insurance coverage.
In which market structure are there a small number of firms competing?
A) only monopoly B) only oligopoly C) perfect competition D) monopolistic competition E) either monopoly or oligopoly
The Gramm-Rudman-Hollings Acts of 1985
a. led to the largest budget deficits in the history of the United States b. structured a one-quarter reduction in real discretionary spending over the period 1993–1998 c. required Congress to implement a pay-as-you-go plan d. required Congress to cut every budgetary item by the same percentage if it could not reduce the deficit to zero through discretionary budget making e. required Congress to pay for new spending by cutting old spending or raising taxes
The principle of comparative advantage explains how
A. one nation can take advantage of another one through international trade. B. two nations may engage in mutually beneficial trade, even though one of them is more productive than the other. C. one individual can take advantage of another through international trade. D. some people are good at producing everything, while others have no comparative advantages. E. some nations end up with large trade surpluses.