The kinked demand curve is really a composite of two separate demand curves.
Answer the following statement true (T) or false (F)
True
The kinked demand curve is really a composite of the demand curve if rivals match price changes and the demand curve if rivals do not match price changes.
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The participation rate is the number of people:
A. employed and unemployed divided by the population aged 16 years and older. B. employed divided by the labor force. C. employed and unemployed divided by the labor force. D. employed divided by the population aged 16 years and older.
Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. If Kyle adopts a pure strategy of "shoot 2," Stan shoul
A) also adopt a pure strategy of "shoot 2." B) adopt a pure strategy of "shoot 1." C) adopt a mixed strategy of "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) adopt a mixed strategy of "shoot 1" more than 50% of the time and "shoot 2" less than 50% of the time.
Ann Taylor and Gap are two clothing companies that must decide on the leading color palette for next season. Their sales depend on the choice of color they make as well as the choice their competitor makes
Their sales are summarized in the payoff matrix above. Using the payoff matrix A) the only Nash Equilibrium is for both companies to choose pink. B) the only Nash Equilibrium is for both companies to choose orange. C) the Nash Equilibrium is for one company to choose pink while the other company chooses orange. D) there are two Nash Equilibria: either both companies choose pink or both choose orange.
Explain why shutting down and going out-of-business are different concepts
What will be an ideal response?