In a Nash equilibrium,
A) each player has a dominant strategy.
B) no players have a dominant strategy.
C) at least one player has a dominant strategy.
D) players may or may not have dominant strategies.
E) the player with the dominant strategy will win.
D
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If you bought a long contract on financial futures you hope that interest rates
A) rise. B) fall. C) are stable. D) fluctuate.
Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:
a. 100 workers. b. 200 workers. c. 700 workers. d. 2,000 workers. e. 10,000 workers.
A leftward shift in supply could be caused by: a. an improvement in productive technology. b. a decrease in income
c. some firms leaving the industry. d. a fall in the price of inputs to the industry.
After the U.S. government had approved the feeding of hormones to U.S. beef cattle, several western European nations restricted the import of beef from the U.S. Which of the following tools of commercial policy had been put to use in this situation?
a. Tariff b. Quota c. Health and safety standards d. Subsidy e. Government procurement