Lori clips coupons out of the Sunday newspaper. Jon does not. Lori's opportunity cost of time is higher than Jon's
Indicate whether the statement is true or false
false
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Economists assume that individuals
A) prefer to live in a society that values fairness above all else. B) will never take actions to help others. C) are rational and respond to incentives. D) behave in unpredictable ways.
In Problem 15, under what conditions would GM stop producing the Chevy Volt and exit the market for electric cars. Explain your answer
What will be an ideal response?
A Nash equilibrium is
A) reached when an oligopoly's market demand and supply intersect. B) reached when each player chooses the best strategy for himself and for the group. C) an equilibrium comprising non-dominant strategies only. D) reached when each player chooses the best strategy for himself, given the other strategies chosen by the other players in the group.
Approximately what percent of all world production of goods and services is exported to other countries?
A) 10% B) 30% C) 50% D) 100% E) 90%