Refer to Table 14-5. What is the Nash equilibrium in this game?
A) Both Ming and Henri offer free pickup and delivery.
B) There is no Nash equilibrium.
C) Henri offers free pickup and delivery, but Ming does not.
D) Ming offers free pickup and delivery, but Henri does not.
A
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An increase in price is likely to affect demand in what way?
A. Demand will increase. B. Demand will decrease. C. Demand will not change. D. This would only affect supply and not demand.
The figure above shows that the U.S. net ________ surplus from the tariff is ________
A) loss of; $30 million per year B) gain in; $20 million per year C) loss of; $10 million per year D) gain in; $55 million per year E) gain in; zero
Monetarists have received this label because they emphasize the role of
a. money supply in determining aggregate supply. b. the money supply in determining nominal GDP. c. the Fed in making monetary policy. d. the money supply in determining interest rates and investment.
A firm has a fixed cost of $500 in its first year of operation. When the firm produces 100 units of output, its total costs are $4,500 . The marginal cost of producing the 101st unit of output is $300 . What is the total cost of producing 101 units?
a. $46.53 b. $800 c. $4,800 d. $5,300