International agreements to limit pollution can lead to:
a. a Nash equilibrium where no countries face the full cost of pollution that they generate.
b. a Nash equilibrium where countries that regulate pollution gain more than countries that do not regulate pollution.
c. a Nash equilibrium where countries that regulate pollution lose more than countries that do not regulate pollution.
d. a Nash equilibrium where no country regulates pollution.
Ans: a. a Nash equilibrium where no countries face the full cost of pollution that they generate.
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In the long-run equilibrium in a perfectly competitive market, the economic profit of the firms is
A) positive. B) negative. C) zero. D) increasing.
As a result of an open market purchase, bank reserves
A) rise and interest rates fall. B) fall and interest rates rise. C) and interest rates both rise. D) and interest rates both fall.
What is a "payoff matrix"?
What will be an ideal response?
In monopolistic competition if there is profit, there is:
A. a signal for new firms to enter. B. a motive for existing firms to increase prices. C. proof that advertising works. D. a motive for existing firms to decrease prices.