Repeated games are conducive to
A) explicit cooperation.
B) tacit cooperation.
C) corruption.
D) failing to have a Nash equilibrium.
B
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If the price elasticity of demand is unit elastic, a 10 percent increase in price will result in a 10 percent increase in revenue
Indicate whether the statement is true or false
Which of the following efficiency wage models centers on the morale of a firm's workers? The
a. shirking model. b. gift exchange model. c. turnover model. d. None of the above
A lower real interest rate ________ investment spending and ________ consumption spending.
A. increases; decreases B. decreases; decreases C. decreases; increases D. increases; increases
Which of the following is true about oligopoly?
A) There are few buyers B) There is no ability to set price C) There are many sellers D) none of the above