A monopolist’s total profit is shown by the difference between price and average cost per unit times the number of units sold.
Answer the following statement true (T) or false (F)
True
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Over the past year, output grew 4%, capital grew 2%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did productivity grow?
A) 2.0% B) 2.7% C) 3.0% D) 3.3%
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of relevant information to the decision maker can be weakened b. the flow of relevant information from the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. incentive compensation at the periphery can be weakened
Passive macroeconomic policy would rely on natural market forces and automatic stabilizers to close an expansionary gap
a. True b. False Indicate whether the statement is true or false
First-mover advantage is:
A. more important to those who have less to bargain with. B. more important in a repeated sequential game than in a one-round sequential game. C. more important in a repeated game than in a sequential game. D. more important in an ultimatum game than in a repeated game.