There is no cost of using your own savings in your business
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is not a characteristic of an assurance game?
A) Neither player has a dominant strategy. B) Nash equilibria exist at every outcome where the players successfully coordinate. C) Each of the Nash equilibria offers identical payoffs to any particular player. D) The payoff for coordinating is higher than the payoff for not coordinating.
In order to understand when a model may not be accurate, which is not an important action to take?
A. Identify what important details were omitted when developing a model. B. Make sure assumptions made in the model are clear and accurate. C. Test the model for accuracy. D. Make sure the model all includes all possible details.
Which country has the largest real GDP?
a. china b. japan c. US d. Qatar e. liechtenstein
In the employment of any resource, a firm should
A. hire each input unit that adds more to revenue than it adds to costs. B. equate marginal revenue product with the cost of the additional resource. C. hire until MRP equals MFC. D. All of these are correct.