Paper bills of different denominations ($1, $2, $5, $10, etc.) generally have an equal average life of circulation within the U.S. economy
Indicate whether the statement is true or false
F
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Markets may not work well due to
a. lack of factor mobility b. high degree of monopoly c. weak legal infrastructure d. government regulation e. all of the above
Refer to the following figure. The point elasticities of demand for D1, D2, and D3 at a price of $5 are ________, ________, and ________, respectively.
A. -1.4; -0.2; -5 B. -12; -6; -12 C. -0.71; -5; -0.71 D. -1.4; -0.2; -1.4 E. -0.0833; -0.1667; -0.0833
Refer to the normal-form game of bargaining shown below.Union?Management??$0$250$500?$0($0, $0)($0, $250)($0, $500)?$250($250, $0)($250, $250)(-$10, -$10)?$500($500, $0)(-$10, -$10)(-$10, -$10)Suppose that management and the union are bargaining over how much of a $500 surplus to give to the union. It is assumed that the surplus can only be split into $250 increments. Furthermore, negotiations are set up such that management and the union must simultaneously and independently write down the amount of surplus to allocate to the union. The payoff structure to this one-shot bargaining game is listed in Figure 10-16. Find the Nash equilibrium(ia) to this game.
A. Union write down $250 and management write down $250. B. Union write down $500 and management write down $0. C. Union write down $0 and management write down $500. D. All of the statements associated with this question constitute Nash equilibria.
Refer to the information provided in Table 8.2 below to answer the question(s) that follow.
Table 8.2 
Refer to Table 8.2. Assume that Sherry's Earrings is producing in a perfectly competitive market and the market price for earrings is $60. To maximize profits Sherry should produce ________ pairs of earrings.
A. two B. three C. four D. five