Refer to Table 14-7. Which of the following statements is true?
A) Perfect's dominant strategy is to offer same-day delivery; Florabunda's dominant strategy is to not offer same-day delivery.
B) Florabunda's dominant strategy is to offer same-day delivery; Perfect's dominant strategy is to not offer same-day delivery.
C) The dominant strategy for both firms is to offer same-day delivery.
D) Neither Perfect nor Florabunda have a dominant strategy.
C
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If the price of gasoline increases significantly, then we'd expect the demand curve for large trucks and SUVs to
A. become upward-sloping. B. shift to the left. C. not shift, but there will be a movement along that demand curve. D. shift to the right.
Disposable personal income is equal to personal income minus personal tax payments
Indicate whether the statement is true or false
General equilibrium refers to
A. examining markets without specific information. B. finding equilibrium from general information. C. pricing goods at their shadow price. D. all of these answer options are correct. E. none of these answer options are correct.
A company finds that at its present level of production, MR = MC at $14, MC = AVC at $15, and MC = ATC at $20. Your advice to the firm regarding its short-run operations is
A. to continue production at a loss. B. to shut down. C. to continue production, as it is earning an economic profit of $1 per unit. D. to continue production, as it is earning an economic profit of $6 per unit.