In recent decades,
A) trading in financial futures declined in importance relative to trading in agricultural and mineral commodities futures.
B) trading in financial futures increased in importance relative to trading in agricultural and mineral commodities futures.
C) trading in agricultural and commodities futures was discontinued.
D) trading in financial futures was discontinued.
B
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Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Which of the following statements is true?
A. Lee's dominant strategy depends on Jordan's choice. B. Lee does not have a dominant strategy. C. For Lee, seeing a documentary is a dominant strategy. D. For Lee, seeing a comedy is a dominant strategy.
Limitations of bargaining include:
A. its impracticality. B. property rights might be assigned in the wrong way. C. if the parties have too much information, bargaining may be unnecessary. D. All of the responses are correct.
In a tradeable effluent permit market,
a. effluent allowances may be used, but not effluent credits b. high-cost abaters will buy permits as long as the price is lower than their MAC c. a permit price should be established where all polluters’ MACs are equal d. all of the above e. (b) and (c) only
The accountants hired by the Brookside Racquet Club have determined total fixed cost to be $75,000 . total variable cost to be $130,000 . and total revenue to be $145,000 . Because of this information, in the short run, the Brookside Racquet Club should
a. shut down. b. exit the industry. c. stay open because shutting down would be more expensive. d. stay open because the firm is making an economic profit.