According to the figure shown, Nike:
A. will reach an optimum outcome by acting in its own self-interest.
B. has a dominant strategy to charge a high price.
C. has a dominant strategy to charge a low price.
D. does not have a dominant strategy.
Answer: C
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An increase in the unemployment rate which is accompanied by an increase in the inflation rate is represented by a ________ the Phillips curve
A) movement down B) movement up C) upward shift of D) downward shift of
The Federal Reserve Act establishing the Federal Reserve System was passed by Congress in
A. 1788. B. 1913. C. 1863. D. 1934.
If sellers have more information about the quality of goods than do buyers, then:
A. sellers of better-than-average goods will have difficulty getting their asking price. B. buyers will never make purchases. C. buyers always will be exploited. D. sellers of lower-than-average goods will have difficulty getting their asking price.
For the cost function C(Q) = 500 + 12Q + 4Q2 + Q3, what is the marginal cost of producing the eighth unit of output?
A. $268 B. $184 C. $524 D. $852