In game theory, when all players are playing their best strategy given what their competitors are doing, the result is a Nash equilibrium.
Answer the following statement true (T) or false (F)
True
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In the monetary small open-economy model with a flexible exchange rate, an increase in the world real interest rate
A) increases domestic output and increases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. B) increases domestic output and decreases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. C) decreases domestic output and increases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. D) decreases domestic output and decreases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate.
Changing the price of good Y will
A. only affect the demand for that good. B. have effects across some markets. C. keep prices down in all markets. D. have no effect.
In the IO perspective it is important to enter an industry with
a. High barriers to entry b. Differentiated products c. Small number of competing firms of different sizes d. All of the above
According to the theory of creative destruction, the greatest threat to a monopolist producer of electric typewriters is likely to be
a. government regulation b. international competition c. the entry of new electric typewriter producers d. growth in the computer industry e. stockholders demanding increased efficiency