Refer to Figure 4.1. The dominant strategy for Simon is
A) Up
B) Down
C) both Up and Down
D) Simon does not have a dominant strategy.
B
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A producer's minimum acceptable price for a particular unit of a good
A. will, for most units produced, equal the maximum that consumers are willing to pay for the good. B. is the same for all units of the good. C. must cover the wages, rent, and interest payments necessary to produce the good but need not include profit. D. equals the marginal cost of producing that particular unit.
A consumer is willing to purchase a product up to the point where
A) he spends all of his income. B) the marginal benefit is equal to the price of the product. C) he is indifferent between consuming and saving. D) the quantity demanded is equal to the quantity supplied.
If you own a bond with a 3 percent coupon rate and new bonds are paying 8 percent, what will happen to your bond's market price?
What will be an ideal response?
Control of a scarce resource or input can serve as an entry barrier.
Answer the following statement true (T) or false (F)