What percentage of the U.S. adult population has at least a high school education (as of 2012)?
A. 31 percent.
B. 41 percent.
C. 88 percent.
D. 95 percent.
C. 88 percent.
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In a zero-sum game, ________
A) each player earns a zero payoff irrespective of the strategy one chooses B) each player has a dominant strategy C) each player chooses a pure strategy D) one player's loss is another player's gain
Since a monopolist has a unique product, it makes no sense for the firm to advertise
a. True b. False Indicate whether the statement is true or false
If the demand increases in a perfectly competitive market, the price will:
A. temporarily decrease. B. increase permanently. C. decrease permanently. D. temporarily increase.
Which of the following is not an example of a barrier to entry?
a. John owns the only parcel of lakeside property with a beach that is safe for swimming. He charges admission to neighbors who want to use the beach. b. Jackie owns the copyright to a popular song. She receives royalties every time a radio station plays her song. c. John Jr. owns the best seafood restaurant in a popular resort area. He charges high prices because the quality of the food is so good. d. Caroline owns the patent for a new running shoe. She receives payments from the company who manufactures the shoes.